Global Accounting Body Tweaks Five Rules Eying Compatibility

The global accounting standard setter issued a series of changes to existing rules Thursday designed to make them clearer and more compatible with other accounting rules.

The International Accounting Standards Board published changes to five accounting standards, including the rules for reporting on financial instruments and cash flows. The annual improvements are limited to small changes and clarifications of existing standards. They take effect January 1, 2026.

International accounting standards are used by more than 140 countries worldwide, including all of the major industrialized countries except the US. There have been several new standards in recent years, such as new ...