Accounting for an attractive option

Article Abstract:

Securitization can be an attractive option for financial institutions, particularly those that have a shortage of working capital or must meet capital ratios set by the Bank of England. This undertaking involves the sale of receivables, or a sale paired with a sub-charge on the buyer's other assets. Securitization is closely related to the disintermediation practices by most banks wherein these institutions act as go-betweens for borrowers and lenders through brokerage and underwriting undertakings. Financial institutions find securitization appealing because it reduces the risk attendant to funding by separating the risk. On the other hand, companies also benefit from such practice by allowing them to borrow less expensively andreceive a better return than other more traditional ways of getting finance. The three methods of transfering financial assets and accounting issues relatedto securitization are discussed.

DEPOSITORY INSTITUTIONS, Evaluation, Services, Financial institutions, Asset-backed securities, Asset backed securities

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IFAC: the consensus seekers

Article Abstract:

The International Federation of Accountants (IFAC) was established in 1973 to foster the harmonization of global accounting and auditing standards. It currently has 105 bodies from 79 countries as members, including the accounting bodies of the UK. The IFAC has many standing committees covering many areas, including ethics, education, financial and management accounting, and international auditing practices. The members support the IFAC financially and bring guidelines developed by the IFAC and the International Accounting Standards Committee (IASC) to the attention of their individual members. The IFAC appoints 13 of the 17 members of the IASC board. The IASC develops and promotes the use of international accounting standards to be used for the preparation of financial statements to increase the level of disclosure among member countries.

Standards, Management, Accounting, International Accounting Standards Board, International Federation of Accountants

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Heavy reading

Article Abstract:

The results of surveys of what parts of a company's accounts are read by shareholders are presented, with focus on the differing results obtained in 1970 and 2000.

Reports, Stockholders, Surveys, Corporations

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