Fair market value rules may expand

According to Bloomberg, last week, FASB decided to consider expanding fair market value rules. Accountants could end up expanding mark-to-market across all financial assets. Read the full article here.

Tata Motors profits rise after change in accounting rules

According to Bloomberg, Tata Motors, who won Jaguar and Land Rover, saw an increase in profit after the Indian government changed accounting rules. They allowed companies to alter provsions for mark-to-market losses in foreign currency loans. This resulted in a profit rise of 58%. Read more here.

Brazil adopts IFRS

According to Bloomberg, in the process of adopting their accounting system to IFRS, the Valor Economico of Brazil announced plans to adopt an accounting rule that would decrease the value of assets at companies that receive government consessions. It would not allow certain assets to be booked on utilities balance sheets. Read the article here.