Discuss the role of International Accounting Standards
Board(IASB) in bringing harmonization of accounting standards and
the convergence of accounting standards.
List and discuss the characteristics of the
International Accounting Standards Board (IASB) that reinforced the
importance of an open, transparent and independent
process?
List and discuss the characteristics of the International
Accounting Standards Board (IASB) that reinforced the importance of
an open, transparent and independent process.
The International Financial Reporting Standards (IFRS), issued
by the International Accounting Standards Board (IASB:
www.ifrs.org) has been increasingly adopted around the world. The
United States Securities and Exchange Commission (SEC: www.sec.gov
), in 2008, issued the publication: “Roadmap for the Potential use
of Financial Statements Prepared in Accordance with International
Financial Reporting Standards by US Issuers”. This Roadmap
presented necessary steps to be taken for US to adopt IFRS starting
2014 and to be completed by 2016.
Use the Internet...
Evaluate Stephen Moehrle article 2010) on response to the
Financial Accounting Standards Board's and International Accounting
Standard Boatd's Joint Discussion paper Entitled preliminary views
on Financial Statement Presentation.
Income Measurement/Revenue Recognition A. Financial Accounting
Standards Board (FASB) and the International Accounting Standards
Board (IASB) came together on a unified project to outline the
accounting principles for recognizing revenue and to develop a
common revenue standard for U.S. GAAP and IFRS. Research IAS-18,
Revenue, and discuss how it would apply to AMAZON. B. Review
AMAZON's revenue over the past two years. Analyze the change in
revenue (increase/decrease) and give the reasons for this change.
C. Reflecting upon AMAZON's balance...