Accounting Standards Boards
No grammar errors, no plagiarism!! – (Plagiarism check prior to release of fund)
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are currently working on a joint venture referred to as the convergence project.
Write a 1100 word paper describing the relationship between the IASB and the FASB. Include the following in your paper:
- A brief history of the relationship between the two boards and the IASB equivalents of the FASB original pronouncements
- An explanation of how the MSA program prepares the student for a professional life within the accounting vocation
Format paper consistent with APA guidelines, including appropriate citations and references.
FASB which means Financial Accounting Standards Board is actually the accounting standard board of U.S. On the other hand, IASB is an International Accounting Standard Board. There are several differences between the standard as well as accounting principles of these two boards. The main goal of the FASB is developing GAAP that is Generally Accepted Accounting practices. On the contrary the major purpose of ISAB is to develop international financial reporting standards. Therefore our main aim in this paper is to describe…