May 17, 2013 1:28 AM
LONDON - Company balance sheets could swell by trillions under a plan by two accounting bodies to reveal more clearly the cost of leasing everything from photocopiers to property.
Proposed changes on reporting leases, backed by the International Accounting Standards Board and the Financial Accounting Standards Board of the United States, are unlikely to satisfy many corporations.
Olympus said Wednesday it swung to an annual net profit as it turns the page on a huge accounting scandal, adding that it expects profits to more than triple in the current fiscal year.
The camera and medical equipment maker said net profit for...
More than a dozen of the biggest U.S. banks have questioned a proposed accounting change meant to boost reserves for risky loans, saying the results would be vastly different from those of a similar rule being developed by global standard-setters.
Guidance issued by the FASB in the US requires entities using liquidation basis to measure their assets at the amount they expect to collect upon sale.
China Mobile says that it is beefing up its internal auditing processes in the wake of an investigation by the government's National Audit Office. Click here for more.
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