|
|
Article: FASB issues Exposure Drafts to improve accounting guidance and support convergence of Global Accounting Standards.(Financial Accounting Standards Board )
- Article from:
- Leader's Edge
- Article date:
- January 1, 2004
CopyrightCOPYRIGHT 2004 Michigan Association of CPAs. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The Financial Accounting Standards Board (FASB) issued four Exposure Drafts that would improve U.S. generally accepted accounting principles and converge U.S. accounting guidance with existing international accounting standards.
The Exposure Drafts reflect the progress that the FASB and International Accounting Standards Board (IASB) have made on a first phase of a joint short-term convergence project that was initiated in 2002. The short-term convergence project involves both the FASB and IASB comparing existing standards and conforming the two sets of standards to the higher-quality solution.
The short-term convergence project is part of a ...