Explain the relevance of the international accounting standards board in today's reporting environment.
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- Discuss the role of International Accounting Standards Board(IASB) in bringing harmonization of accounting standards and the convergence of accounting standards.Explain the role of the International Accounting Standards Board (IASB) in relation to International Financial Reporting Standards (IFRS).Discuss the primary differences between U.S. GAAP and IFRS with respect to the development of accounting standards and the conceptual framework underlying accounting standards.
- How do you think accounting standards should be set? Is that the approach currently taken by the IASB?Discuss the principles and characteristics of the International Financial Reporting Standards (IFRS) and how they differ from Generally Accepted Accounting Principles (GAAP). What are the advantages and challenges of implementing IFRS globally?describe the International Accounting Standards Board’s conceptual framework, including the objective and qualitative characteristics of fi nancial statements, required reporting elements, and constraints and assumptions in preparing fi nancial statement
- Explain about the adoption of International Financial Reporting Standards and consistency in accounting practices.What contemporary factors are contributing to the internationalization of the subject of accounting?Explain the major factors influencing the international development of accounting systems.
- How is the conceptual framework applied to IAS 1, IAS 8, and IAS 21? IAS is "International Accounting Standards"Identify and explain the difference between the two systems of regulation, stating clearly which system you believe describes the International Financial Reporting Standards (IFRS)Why is there a need for a change in the structure of the International Accounting Standards Committee? What is the role of the IASB in the field of accounting?