IFRS Convergence, ACC 303 week 2 Discussion help

Jul 16th, 2016
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Question description

"IFRS Convergence" Please respond to the following:

  • From the e-Activity, briefly compare the IASB and FASB in regards to the convergence process. Give your opinion on the reasons why a single set of accounting principles would be beneficial to corporations. Explain your rationale.
  • Determine what you believe to be the major obstacles to the convergence process. Recommend two (2) strategies that the IASB could use in order to improve the convergence process overall. Justify your response.

Please make sure you post an Initial Post and at least one Reply Post in this Thread  All posts should be substantive and add value to the discussion.  Please make sure your posts are grammatically correct and do not have any spelling errors.  Each post should have original content and you must cite any sources that you quote or paraphrase.  For additional guidance, please refer to the Threaded Discussion Announcement posted in the course.

Tutor Answer

(Top Tutor) wambuiguama
School: Carnegie Mellon University

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IFRS Convergence


IFRS Convergence

The collaborative work of the US financial accounting standards board (FASB) and the
International Accounting Standards Board (IASB) started in 2002 with an aim of achieving
convergence of IFRSs and US accepted accounting prin...

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