Description
Words 600 words not including the introduction or conclusion
Apa writing graduate writing 2 or more reference in past 5 years
Proper citation based on the APA manuel
400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:
The Board of both IASB and FASB in 2008 signed a Memorandum of Understanding (MoU), outlining the short-term and longer-term convergence projects.
- Select one short-term and one long-term project. Determine, whether the selected project is a barrier towards the convergence roadmap. Support your position with the work plan projects.
- In your opinion, should the project be tabled and worked on after the convergence? Or should it be completed before the convergence?
Explanation & Answer
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Running head: SHORT TERM AND LONG TERM CONVERGENCE
Short-term and Long-term Convergence
Student Name
University Affiliation
Instructor
Date of Submission
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SHORT TERM AND LONG TERM CONVERGENCE
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Introduction
There have been a lot of pressures to many countries and financial institutions to adopt
new system that will improve on financial reporting. United States, for instance, has been forced
to remove the gap that existed between US Generally Accepted Accounting Principles (GAAP)
and the International Financial Reporting Standards (IFRS). The aim is to converge all projects
so that financial reporting can be improved. Converging also aims at improving on the openness
about financial issues.
Short-term convergence Project
The short term convergence project can be said to be a plan of the project that is active
and conducted together with the International Accounting Standards Board (IASB). Short term
convergence project results to other standards which will achieve convergence in other financial
areas. The Short-term convergence project has a limited scope to the differences between US
GAAP and (IFRS...