Saturday, June 14, 2008

CONVERGENCE OF US GAAP AND IFRS

The International Accounting Standards Board (IASB) and US Financial Accounting Standards
Board (FASB) has published consultative documents that seek public comment on two of the eight
phases of their joint project to develop an improved conceptual framework. The objective of the project is to develop an improved conceptual framework that provides a sound foundation for developing future accounting standards.

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