sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 What is tax deducted at source (TDS)?
 Income Tax Return filing 2018: Here are some important tips for you
 Change in Examination Venue in Thane, Zone – II, May 2018 Examinations
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling

European banks look to US accounting
January, 11th 2008
European banks are considering adopting detailed US-style disclosures of how they value financial instruments, going above and beyond the actual accounting requirements in a bid to help calm jittery investors.
Bank shares have tumbled in recent months as investors shied away from the sector because of uncertainties about the exact level of losses they faced.
Most leading institutions are preparing their year-end results, the most detailed communication they have with shareholders, and are under pressure to provide as much disclosure as possible. A new international accounting standard will mean banks have to provide more information than before.
But some financial teams are understood to be considering following new US requirements, which are more elaborate and require financial instruments to be split between three buckets depending on how liquid the market for trading them is.
The systems the banks have are producing this information anyway, so it is not a stretch for them to present it in that way, said Mark Rhys, a banking audit partner at Deloitte. John Hitchins, banking leader at PwC, said: A number of banks are considering this. Theyre getting questions about this from investors familiar with the US form, so it makes sense to consider it if it helps investors understand the situation.
But the auditors cautioned against expecting too much comparability between disclosures in the annual reports in spite of efforts to standardise them. The danger is [that] people take a particular footnote [in a set of accounts] out of all proportion. Someone could go around and look at, say, line five of note 27 and try and compare each of the banks when it is not that straightforward because they are all different businesses, said Rhys.
This is the first year that US investment banks have been using these particular detailed disclosures, which have yet to go through the rigour of a year-end audit. This means that although the basic information provided in US quarterly filings is the same, the presentation and detail of the disclosures vary widely.
Level One assets are very liquid, while Level Two involves less traded securities and accepts prices for instruments similar to those being valued.
Interest has focused on Level Three, where a model developed by the bank is used to calculate value. Most collateralised debt obligations and other complex securities are in this category.
With many corners of the markets still frozen, some investors fear that more assets will fall into the Level Three category.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions