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IFRS future in the hands of politicians, bureaucrats and accountants

October 18, 2007

Analysis of:IASB Warns Europe on Accounting Standards | www.ft.com

If the politics around international accounting standards does not subside in the near future this will prove detrimental to the development of standards for providing a true and fair view on the performance of public companies across the globe. If the bickering continues, this will also give an easy opt out for FASB and US companies from adopting IFRS. Their view will be that IASB, and consequently IFRS, is not a mature enough platform to converge since the first major adopter (i.e. EU) is having second thoughts.

Wait and see

October 17, 2007

Analysis of:How to Simplify Accounting in One Year | www.cfo.com

Potential cost savings for foreign groups if IFRS based accounts become acceptable to SEC. Humbling effect of US becoming just a player, albeit still a major one, in the global capital markets It remains to be seen whether this is an exercise to ensure that US authorities seen as doing something about their box ticking culture or it will actually bring a fundamental change to US mentality on compliance. Similar initiative, if ultimately implemented, on corporate governance will prove popular with foreign groups who would like to get listed in the US. The whole idea is to make US more attractive destination for capital but potential problems with implementation is the key concern.

A short comment

October 16, 2007

Analysis of:Barclays Loses Battle for ABN Amro | www.businessweek.com

Barclays losing ABN wil not be deterimental to its value and short term investor will like the idea anyway due bid premium and possibility of another deal. All in all it is good thing that Barclays lost the battle unless you are an employee of the bank. This might prompt a reorganisation and cost cutting process to recognise lower profitability due to credit crunch. RBS consortium on the other hand had paid a high price and have a low chances of getting the break up right. However as outsiders we will never be able to see the true value addition (or destruction) of this deal.

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