IASB And FASB
The International Accounting Standards Board (IASB) and the Financial Accounting Standard Board (FASB) have made huge changes in order to understand the relationship between the two. The IASB was created to provide observance in how the financial statements were published and their global acceptance and to work towards improvements of accounting standards. In this paper, brief analysis of the IASB and FASB history and how the MSA program prepares students for the career path in becoming a qualified accountant.
The mission to improve and establish accounting and financial reporting for public and private sectors is entitled to the FASB. Both the IASB and FASB have the same tasks of improving common understanding of financial reporting, and regulating rules and laws with their own requirements on accounting. The FASB is a nonprofit organization that centers on GAAP and the IASB deals with the international financial standards board.
The Master of Accountancy (MSA) program is designed to enhance the knowledge of people who already possess an undergraduate degree and they wish to continue their education. These programs are used to allow interactions with other individuals in learning solutions to problems in accounting. The MSA programs are allotted to provide students with historical perspectives of different aspects within accounting. Since each state has different rules and requirements for the Certified Public Accountant (CPA) exam, the MSA program is designed to meet most requirements.
References
FASB. (2002). Memorandum of Understanding – “The Norwalk Agreement”. Retrieved November 10, 2014, from http://www.fasb.org/news/memorandum.pdf)
FASB. (2009). Facts about FASB. Retrieved November 09, 2014 from http://www.fasb.org/facts/index.shtml
The mission to improve and establish accounting and financial reporting for public and private sectors is entitled to the FASB. Both the IASB and FASB have the same tasks of improving common understanding of financial reporting, and regulating rules and laws with their own requirements on accounting. The FASB is a nonprofit organization that centers on GAAP and the IASB deals with the international financial standards board.
The Master of Accountancy (MSA) program is designed to enhance the knowledge of people who already possess an undergraduate degree and they wish to continue their education. These programs are used to allow interactions with other individuals in learning solutions to problems in accounting. The MSA programs are allotted to provide students with historical perspectives of different aspects within accounting. Since each state has different rules and requirements for the Certified Public Accountant (CPA) exam, the MSA program is designed to meet most requirements.
References
FASB. (2002). Memorandum of Understanding – “The Norwalk Agreement”. Retrieved November 10, 2014, from http://www.fasb.org/news/memorandum.pdf)
FASB. (2009). Facts about FASB. Retrieved November 09, 2014 from http://www.fasb.org/facts/index.shtml
References: FASB. (2002). Memorandum of Understanding – “The Norwalk Agreement”. Retrieved November 10, 2014, from http://www.fasb.org/news/memorandum.pdf) FASB. (2009). Facts about FASB. Retrieved November 09, 2014 from http://www.fasb.org/facts/index.shtml