number | Facts about FASB and IASB | 3 | Similarity and differences between FASB and IASB‚ Efforts to resolve differences in the standard between FASB and IASB‚ | 4 | Convergence of FASB and IASB | 5 | Issues | 6 | The needs of harmonization of internal accounting standards | 7 | Obstacles of harmonization of accounting standards‚ discussion and evaluation on whether it will be accepted by all users | 8 | Conclusion | 9 | Reference List | 10-11 | FASB Financial Accounting
Premium International Financial Reporting Standards Financial Accounting Standards Board Financial statements
Accounting Standards Boards “The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are currently working on a joint venture referred to as the convergence project” (University of Phoenix‚ 2013‚ p. 1). As a result‚ both Boards have agreed to meet a deadline of June 2011 for the convergence of the accounting guidelines to be complete. Understanding their history and their relationship can help students in the MSA program to get ready for the working
Premium Financial Accounting Standards Board International Financial Reporting Standards Finance
PARTIES INVOLVED IN STANDARD-SETTING * Securities and Exchange * Commission * American Institute of CPAs * Financial Accounting * Standards Board * Changing role of the AICPA GENERALLY ACCEPTED ACCOUNTING PRINCIPLES * FASB Codification ISSUES IN FINANCIAL REPORTING * Political environment * Expectations gap * Financial reporting * challenges * International accounting * standards * Ethics The essential characteristics of accounting are
Premium Financial Accounting Standards Board International Financial Reporting Standards Financial statements
Standard Board (FASB) sets regulations for nongovernment entities and the Government Accounting Standard Board (GASB) is the government entities regulator. They have similarities and differences designed for the type of business they monitor. The financial statements are another area that can be confusing because most businesses will use accrual accounting methods‚ but government organizations use a modified version. To understand the similarities differences between GASB and FASB the following paragraphs
Premium Generally Accepted Accounting Principles Balance sheet Financial statements
My major goal in life is to become an elite officer in the Army CAG (Delta Force). The Army ROTC is a direct route into this process by graduating with a Bachelor’s degree in Political Science and at the same time becoming an Army Commissioned Officer. At that point‚ my next move is start my track to entering the Ranger Battalion or becoming a Green Beret. The Army ROTC curriculum will help enhance my leadership skills so that I may become an elite operator who will be able to lead his men with‚
Premium Military Leadership United States Army
Assignment 2 The three major macroeconomic goals of an economy should be economic growth‚ low unemployment/full employment‚ and low inflation rates. Economic growth occurs when an economy ‘increases its ability to produce goods and services’ (AmosWeb‚ 2012). The growth or loss of the economy is measured by the production of goods made in a year compared to the production of goods made in the previous year. If there is a greater production of goods and services in the present year‚ then there has
Premium Inflation Unemployment
Major Goal A major goal that I have achieved is conquering major apprehensive fears in my life. In the past‚ I have dealt with depression‚ anxiety‚ and the overwhelming uneasiness of making friends. Anytime I found the courage to face these cowardly feelings‚ I would find myself face first into a wall of uncertainty. Ashamed of the outcome which could occur‚ such as making a foolish mistake‚ I would curl back into a ball and let my fears consume me like a meatball sub. I would countlessly ask myself
Premium Anxiety Fear Emotions
on these guidelines‚ revenue should not be recognized until it is realized or realizable and earned.（FASB ASC 605-10-25-3; FASB ASC 605-10-25-5）Recognition and Measurement in Financial Statements of Business Enterprises‚ paragraph 83(b) states that "an entity’s revenue-earning activities involve delivering or producing goods‚ rendering services‚ or other activities that constitute its ongoing major or central operations‚ and revenues are considered to have been earned when the entity has substantially
Premium Education Teacher Educational psychology
each person on the autistic spectrum has their own individual abilities ‚ needs‚ strengths‚ gifts and interests Each individual should be looked at as an individual even when they have a diagnosis of asc this is a basic human right to be seen as an individual and not as a label Individuals with ASC can’t be put into a one will fit all box ‚ and to make sure that the individual gets the most from their lives and becomes an individual in their own right any help put in place must be tailored with that
Premium Autism
1. How does the ASC define a component of an entity? Component of an Entity A component of an entity comprises operations and cash flows that can be clearly distinguished‚ Operationally and for financial reporting purposes‚ from the rest of the entity. A component of an entity may be a reportable segment or an operating segment‚ a reporting unit‚ a subsidiary‚ or an asset group. 2. Are there any conditions that must be met before a component of an entity can be considered discontinued
Premium Unified Modeling Language Cash Report