The Financial Accounting Standards Board (FASB) has issued FASB Statements No. 141, Business Combinations (Revised 2007) and No. 160, Non-controlling Interests in Consolidated Financial Statements. Effective for fiscal years beginning after 15 December 2008, the standards are designed to improve, simplify, and converge internationally the accounting for business combinations and the reporting of non-controlling interests in consolidated financial statements. SFAS 141(R) aims to improve reporting by creating greater consistency in the accounting and financial reporting of business combinations. It will also reduce the complexity of existing GAAP. SFAS 160 is designed to improve the relevance, comparability and transparency of financial information provided to investors by requiring all entities to report non-controlling (minority) interests in subsidiaries in the same way as equity in the consolidated financial statements. Moreover, SFAS 160 eliminates the diversity in accounting for transactions between an entity and non-controlling interests that currently exists by requiring they be treated as equity transactions.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more