Fasb Paper

1 Inter guinea pig score Standards introduction panel (IASB) and the Financial bill Standards Board (FASB) Paper Jennifer L. aged University of Phoenix ACC 541: Accounting Theory and Research October 31, 2011 Professor William capital of Alabama 2 The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) argon shortly working on a joint venture referred to as the crossroad project. word projects are those that standard setters have concord to conduct simultaneously in a coordinated manner. Joint projects involve the sharing of module resources, and every effort is do to keep joint projects on a similar clipping schedule at severally Board. Currently, the FASB and IASB are conducting joint projects to shout revenue recognition and backing combinations. Both the IASB and the FASB had issued a memorial of understanding, marking a remarkable step toward formalizing their commitment to the convergence of United States and international score standards. The FASB and IASB presented the agreement to the chairs of leading national standard setters at a two-day meeting being held in London. The agreement between the FASB and IASB represents their in vogue(p) commitment, following their joint meeting, to wed compatible, mettlesome quality solutions to lively and future accounting issues. The FASBs bang is to establish and improve financial accounting standards and reporting for the charge and education of the public. Included in the public are issuers, auditors, and users of fiscal information. Broad accounting concepts and standards for financial reporting are demonstrable by the FASB. The IASBs mission is to let on one set of high quality, understandable, and international financial reporting standards (IFRSs) for ge neral purpose financial statements. (Schroed! er, Clark, Cathey, 2011). In 1973 the...If you want to lounge about a full essay, narrate it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper