Advantages and Disadvantages of US Convergence Between GAAP and IFRS
Over the past decade, there has been a growing demand in the business world that US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) converge to form a set of universal accounting standards. In 2002, members of the Financial Accounting Standards Board (FASB) and members of the International Accounting Standards Board (IASB) met and issued a memorandum […]
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