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Secret to Homemade Coke: Instant Cold, No Canisters; Coca-Cola and Keurig Dream of Less Lugging, More Glugging

Secret to Homemade Coke: Instant Cold, No Canisters

Coca-Cola and Keurig Dream of Less Lugging, More Glugging

ANNIE GASPARRO and MIKE ESTERL

Feb. 6, 2014 8:00 p.m. ET

For a century, the executives of Coca-Cola Co. KO +1.12% have done everything possible to put their famed cola “within arm’s reach of desire,” to the point that one chief executive frequently pondered an extra tap at the kitchen sink—with Coke flowing from it. Read more of this post

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More Men in Prime Working Ages Don’t Have Jobs; Technology and Globalization Transform Employment Amid Slow Economic Recovery

More Men in Prime Working Ages Don’t Have Jobs

Technology and Globalization Transform Employment Amid Slow Economic Recovery

MARK PETERS and DAVID WESSEL

Updated Feb. 6, 2014 6:12 p.m. ET

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More than one in six men between the ages of 25 and 54, prime working years, don’t have jobs, a chronic condition that shows how technology and globalization are transforming jobs faster than many workers can adapt, economists say. David Wessel, Hutchins Center on Fiscal and Monetary policy director, joins MoneyBeat. Photo: Wesley Hitt for The Wall Street Journal. Read more of this post

IBM Looking to Sell Chip Manufacturing Operations

IBM Looking to Sell Chip Manufacturing Operations

DON CLARK And SPENCER E. ANTE

Feb. 6, 2014 10:13 p.m. ET

International Business Machines Corp. IBM +0.80% is exploring the sale of its semiconductor manufacturing operations, said a person familiar with the matter. Read more of this post

IFRS: A Look At The Global Accounting Landscape

IFRS: A Look At The Global Accounting Landscape

by ManiFebruary 06, 2014, 2:10 pm

The insurance IFRS project that IASB is currently working has potential to make substantial improvement to current financial reporting, notes CITI in its recent report.

Sarah Deans and Terence Fisher of Citi Research in their recent report titled ‘An Investor’s Annual Guide to IFRS Accounting’ anticipate a new standard on revenue recognition to be issued in H1 2014.

Taking stock of IASB’s major projects, the analysts point out IASB is currently working on four major projects viz.: (a) Revenue project relating to replacing existing rules on when revenue is reported, (b) Leases project bringing all leases on balance sheet, (c) Financial instruments project covering replacement of IAS 39 (which has been identified as a high priority following the credit crisis) and (d) Insurance project addressing first comprehensive IFRS for insurance.

Two new IFRS in 2014

The following table highlights the list of IFRS at January 2014:

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The Citi analysts point out that the International Accounting Standards Board (IASB) failed again in 2013 to deliver final standards for any of the four major projects it has been working on for several years. However, the analysts anticipate two important new IFRS standards to be published in 2014 viz.: revenue and financial instruments. The following table captures the overview of proposed revenue recognition framework:

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However, the analysts are less optimistic that the other two projects viz.: insurance and leases will be completed, though they anticipate significant decisions to be made on both the projects.

Dwelling further into the insurance IFRS, the analysts point out that the insurance project has the potential to make asubstantial, positive improvement to current financial reporting. They point out that currently there is no comprehensive IFRS framework for accounting forinsurance liabilities, implying large diversity in accounting practices amongst insurers, and a resulting lack of comparability of insurance company balance sheets and results.

However, the Citi analysts don’t’ envisage the new IFRS to be issued until 2015 or mandatory until 2018.

Financial instruments IFRS – no significant improvement

The Citi analysts point out that the financial instruments project was initially billed as the IASB’s fix for the perceived accounting problems associated with the 2008 credit crisis, in particular insufficient loan provisioning, overly complex accounting rules in IAS 39. However the analysts don’t envisage the current IFRS 9 proposals as substantially improving accounting on any of these counts.

Highlighting some of the other developments in their report, the Citi analysts point out that three new IFRS viz.: IFRS 10, 11 and 12 are to take effect from January 1, 2014 in the EU.

The Citi analysts anticipate a new standard on revenue recognition to be issued in H1 2014 which is expected to have significant implications for telecoms sector, which will need to move away from cash accounting for bundled contracts.

As reported earlier, in 2012, the Securities and Exchange Commission issued a report without making any recommendation or timeframe for adopting IFRS. The Citi analysts don’t expect the US to adopt IFRS in the foreseeable future. The following table summarizes the status of IFRS adoption in various countries:

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Why Mark Zuckerberg has calmed down about openness and authenticity

Why Mark Zuckerberg has calmed down about openness and authenticity

By Matt McFarland, Updated: February 6 at 8:52 am

Amid all the talk of Facebook this week as it celebrates its 10th anniversary, I’m struck by how CEO Mark Zuckerberg has tweaked his tune on the the benefits of openness.

As Facebook rose to prominence, Zuckerberg preached the value of open platforms and sharing information.  ”If people share more, the world will become more open and connected. And a world that’s more open and connected is a better world,” he wrote in 2010. The year before he defined his company as one “that’s trying to bring innovative things to people that help them share more and make the world more open.” Read more of this post

This is why your smartphone battery has the life span of a fruit fly

This is why your smartphone battery has the life span of a fruit fly

By Dominic Basulto, Updated: February 6 at 7:57 am

When news leaked out this week that Apple was experimenting with a new way of charging its anticipated iWatch – possibly using kinetic movement, magnetic induction or solar power — it should have been an “a-ha” moment for innovators everywhere. We’ve been so accustomed to thinking in terms of “battery life” and plugging cords into electrical wall sockets that we never ask the obvious question: Why isn’t there more innovation when it comes to powering our digital devices? Read more of this post

When average is over, lifelong learning is key

When average is over, lifelong learning is key

In a recent book titled Average Is Over, noted economist Tyler Cowen talks about how income disparity has increased and will continue to increase in the world.

BY K RANGA KRISHNAN –

07 FEBRUARY

In a recent book titled Average Is Over, noted economist Tyler Cowen talks about how income disparity has increased and will continue to increase in the world. Read more of this post

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