US GAAP

Income tax department notice to Satyam to get accounts for years 2002/03 and 2007/08 audited

Satyam Computer Services Ltd. said Tuesday it has received a letter from India's tax department requesting it to get its accounts audited for the tax assessment years of 2002-2003 and 2007-2008. No further details were provided in Satyam's filing to
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IASB and FASB propose a new joint standard for revenue recognition

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) today published for public comment a draft standard to improve and align the financial reporting of revenue from contracts with customers and related costs.
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