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Freedom to fudge.
- Source :
-
Economist . 7/26/2014, Vol. 412 Issue 8897, p61-62. 2p. - Publication Year :
- 2014
-
Abstract
- The article reports on changes to the International Accounting Standards Board's international financial reporting standards (IFRS) concerning the ability of banks to writedown loans. It states while the European Union required all of its members to adopt the IFRS incurred-loss method in 2005, Spain continued using dynamic provisioning concerning smoothing of writedowns. It mentions Spanish banks were unable to cope with both the global financial crisis in 2008 and the Eurozone crisis in 2009.
Details
- Language :
- English
- ISSN :
- 00130613
- Volume :
- 412
- Issue :
- 8897
- Database :
- Academic Search Index
- Journal :
- Economist
- Publication Type :
- Periodical
- Accession number :
- 97222160