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Article: Convergence of accounting standards: a comparative analysis of the U.S. revised standard on share-based payment and the International Accounting Standards Board's IFRS 2.(International Financial Accounting Standards)
- Article from:
- Review of Business
- Article date:
- March 22, 2005
- Author:
CopyrightCOPYRIGHT 2005 St. John's University, College of Business Administration. 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)
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Abstract
The FASB's recently revised standard, SFAS 123(R), Share-Based Payment, converges closely with the IASB's identically titled standard, IFRS 2. Both standard-setting Boards continue to work closely together to achieve a coherent set of improved standards that will result in "greater international comparability." This article examines and compares the similarities and remaining differences between the two recently issued standards on share-based payments.
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Introduction
On December 16, 2004, the Financial Accounting Standards Board (FASB) published SFAS 123(R), Share-Based Payment, which was a nearly two-year effort by ...