Reading List for Financial Reporting in a Global Environment

The Reading List is keyed to the numbered areas 1–5 in the following diagram.

Reading List:

1.  Codification

a.   Project Update on GAAP Hierarchy, March 2007 (4 pages)
http://72.3.243.42/project/gaap_hierarchy.shtml

b.   “Near-Final” SFAS #1xx:  The Hierarchy of Generally Accepted Accounting Principles, September 2006 (15 pages)
http://72.3.243.42/project/gaap_near-final.pdf

c.   The FASB Embarks on a Historic Change to the Structure of U.S. Accounting Standards, The FASB Report, September 30, 2004  (2 pages)
http://72.3.243.42/articles&reports/fasb_embarks_tfr_sept_2004.pdf

d.    FASB Codification and Retrieval Project: Overview of Approach, 2006 (2 pages)
http://72.3.243.42/project/A-Overview_of_approach.pdf

e.   FASB Launches Verification Phase for the FASB Accounting Standards Codification, News Release, 1/15/08. (2 pages)
http://72.3.243.42/news/nr011508.shtml

f.   FASB Accounting Standards Codification Notice to Constituents  V1.01 (52 pages)
http://asc.fasb.org/imageRoot/56/2304556.pdf

g.   FASB Codification Topic Structure, 11/3/07 (14 pages)
http://72.3.243.42/project/B-Topics_and_subtopics.pdf

h.   Register for the Accounting Standards Codification, register and try it out
http://asc.fasb.org/register

2.  Conceptual Framework

a.   A New Conceptual Framework Project, May 2005 (18 pages)
http://72.3.243.42/project/communications_paper.pdf

b.   FASB’s Conceptual Framework, (5 pages)
http://www.olemiss.edu/courses/accy303/Chapt2.pdf

c.   IASB’s Conceptual Framework, PWC (3 pages)
http://www.pwc.com/servlet/pwcPrintPreview?LNLoc=/Extweb/service.nsf/docid/52ED6F99E80167D1802571260049C30E

d.   Project Update -  Conceptual Framework: Joint Project of the IASB and FASB, January 15, 2008 (2 pages)
http://www.fasb.org/project/conceptual_framework.shtml

e.   US FASB and IASB Publish First Draft Chapters of Joint Conceptual Framework,
News Release 07/06/06 (3 pages)
http://72.3.243.42/news/nr070606.shtml

f.    FASB Exposure Draft:  Conceptual Framework – Phase A, July 2006 (69 pages)
http://www.fasb.org/draft/pv_conceptual_framework.pdf

g.   Conceptual Framework Phases B & C, Aug 2007 (11 slides)  
http://www.iasb.org/NR/rdonlyres/E6118165-10E1-429A-BC3F-83B0DB3F6AB7/0/CFPresentationSingaporeHICKEY.pdf

h.   Conceptual Framework – Phase B: Elements and Recognition, July 2007 (8 pages)
http://www.iasb.org/NR/rdonlyres/EAA09955-62A7-455B-A76B-52D23AA3647A/0/CF0707b02a1obs.pdf

i.   Conceptual Framework – Phase C: Measurement Concepts and Principles, July 2007 (29 pages)
http://www.iasb.org/NR/rdonlyres/E14BE7C2-0B08-4BA1-B80D-542C0334B042/0/CF0707b02bobs.pdf

j.   Conceptual Framework – Measurement Bases, Feb 2007(4 pages)
http://www.iasb.org/NR/rdonlyres/F1ACC69B-9FE8-4156-A7E5-0BD708848526/0/Attachment2TermsDefinitionsSynonyms.pdf

k.   Conceptual Framework Phase D: Reporting Entity, Aug 2007 (pages 2-6 with slides 3-10)
http://www.iasb.org/NR/rdonlyres/04AD676A-D2CA-4871-9C90-0ACF3236A659/0/ConsolsJVsReptEntitySingaporeAugust2007.pdf

3.  Financial Statement Presentation

a.   Financial Statement Presentation: A Joint Project of the IASB and FASB,
Project Update, January 4, 2008 (6 pages)
http://www.fasb.org/project/financial_statement_presentation.shtml

b.   Financial Statement Presentation, November 21, 2007 (15 slides)
http://www.iasb.org/NR/rdonlyres/C7287440-76F7-42BE-9298-E11260CA90AF/0/FinancialStatementPresentation.pdf

c.   Financial Statement Presentation – Phase A Summary as of 9/30/07, (2 pages)
http://www.fasb.org/project/fin_stmt_presentation_phasea_tentative_dec.pdf

d.   Financial Statement Presentation – Phase B Summary as of 11/30/07, (11 pages)
http://www.fasb.org/project/fin_stmt_presentation_phaseb_tentative_dec.pdf

e.   Financial Statement Presentation: An Overview of Preliminary Model, Sept 2007 (20 pages)
http://www.iasb.org/NR/rdonlyres/DA90710F-4AE5-4282-8720-D96D4897DDAD/0/16.pdf

f.   History of the Reporting Performance Project, January 2005 (27 pages)
http://72.3.243.42/project/perf_reporting_history.pdf

4.  Convergence of Standards

a.   A Roadmap for Convergence Between IFRSs and U.S. GAAP—2006-2008: Memorandum of Understanding Between the FASB and the IASB, February 27, 2006 (4 pages)
http://www.iasb.org/NR/rdonlyres/874B63FB-56DB-4B78-B7AF-49BBA18C98D9/0/MoU.pdf

b.    US GAAP/IFRS Convergence Update Slides, September 2007 (18 slides)
http://www.iasb.org/NR/rdonlyres/43B576EF-A49E-4B29-82A0-DAD15EB27732/0/8.pdf

c.   IASB Work Plan – Projected Timetable as of December 2007 (3 pages)
http://www.iasb.org/NR/rdonlyres/0807336A-D79C-4106-93B0-4138CE745106/0/9.pdf

d.   IFRS Technical Update: Standards and Interpretations, September 2007 ( 49 slides)
http://www.iasb.org/NR/rdonlyres/283C7660-A1EB-484C-A940-795A5D9FFC31/0/13.pdf

e.   U.S. GAAP vs  IFRS:  The Basics, Ernest & Young, Fall, 2007 Contains a good analysis of differences on a number of important topics.(43 pages) 
http://www.ey.com/global/assets.nsf/New_Zealand/US_Gaap_vs_IFRS:_The_Basics_Autumn_2007/$file/Industry_AM_IFRS_US_GAAP_Diffs.pdf

f.   Similarities and Differences: A Comparison of IFRS and US GAAP, PWC, October 2007 (70 pages) Contains a very good summary of IFRS vs US GAAP in tabular format at the beginning of the document.
http://www.pwc.com/gx/eng/about/svcs/corporatereporting/SandD_07.pdf

5.   Improving Financial Reporting

a.   SEC Establishes Advisory Committee to Make U.S. Financial Reporting SystemMore User-Friendly for Investors, June 2007 (2 pages)
http://www.sec.gov/news/press/2007/2007-123.htm

b.   Draft Decision Memo from the SEC Advisory Committee on Improvements to Financial Reporting,
January 11, 2008 (95 pages)
http://www.sec.gov/about/offices/oca/acifr/acifr-ddm-011108.pdf

c.   SEC Concept Release 33-8831 – Allowing U.S. Issuers to Prepare Financial Statements in Accordance With International Financial Reporting Standards, December 21, 2007 (29 pages)
http://www.sec.gov/rules/final/finalarchive/finalarchive2007.shtml

d.   Acceptance From Foreign Private Issuers of Financial Statements Prepared  in Accordance With International Financial Reporting Standards Without Reconciliation to U.S. GAAP, SEC Final Rule   January 4, 2008 (35 pages)
http://www.sec.gov/rules/final/2008/33-8879fr.pdf

e.   IFRS in the US—December 2007 SEC Roundtables:  Overwhelming Support Expressed for IFRS in the US,
E&Y, December 21, 2007 (7 pages)
https://eyaprimo.ey.com/natlmktgaprimoey/Attachments//IFRSHotTopics_BB1483.pdf