On The Same Page
- Topics:
- GAAP
- Tags:
- Accounting,
- CFO Publishing Corp.,
- Finance,
- Financial Accounting,
- GAAP,
- International Accounting Standard
- Source:
- CFO Publishing
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Overview: From the executive summary: ‘Researches suggest that International Accounting Standards (IAS) and Generally Accepted Accounting Principles (GAAP) look almost the same, thanks to diligent efforts by standards setters to eliminate the practical differences between them. However, when one starts applying them with different international accents, suddenly one understands why some people want to call the whole thing off. Thus, the convergence of IAS and GAAP continues apace, with the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) working in concert.’ The paper explains the need for merging the two different accounting standards.
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Format: HTML | Date: May 2002 | Pages: 3
