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?
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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?
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- How do you think accounting standards should be set? Is that the approach currently taken by the IASB?Why is there a need for a change in the structure of the International Accounting Standards Committee?What contemporary factors are contributing to the internationalization of the subject of accounting?
- What should you tell your friend about the presence of accounting standards in theUnited States? Who has the authority for standard setting? Who has the responsibility?Explain the relevance of the international accounting standards board in today's reporting environment.Why does the International Accounting Standards Committee (IASC) was formed?
- Do the conceptual frameworks of the International Accounting Standards Board and the Financial Accounting Standards Board vary in terms of the function of financial reporting?What are some of the problems created by differences in accounting across countries and the reasons to develop a set of internationally accepted accounting standards?What should you tell your friend about the presence of accounting standards in the UnitedStates and the rest of the world? Who has the authority for standard setting? Who has theresponsibility?
- 6. What is the purpose of the International Accounting Standards Board? How are IASB standards used by various countries?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 is U.S. GAAP accounting different from international accounting? What are the key differences? And what rationale drives these differences?