The accounting review - IASB, FASB to replace financial instruments rules - Forbes

NEW YORK (Reuters) - The International Accounting Standards Board (IASB) and U.S. Financial Accounting Standards Board (FASB) said Tuesday that they will work quickly to replace accounting standards for off-balance sheet and financial instruments more

Mark-to-market (MTM) accounting is under fierce attack by bank CEOs and others who are pressing Congress to suspend, if not repeal, the rules they blame for the current financial crisis. Yet their pleas to bubble-wrap financial statements run counter more

For what could be the first time in history, a meeting of accounting standard-setters this week may have some relevance to the critical G20 meeting set set for next week. At a joint session held in London this week, the International Accounting more