1. The development of national accounting -- 2. The move to international accounting -- 3. The convergence project -- 4. Standards of dissent -- 5. The end and the beginning -- Notes -- References -- About the authors -- Index

Bibliographische Detailangaben

Hauptverfasser:	Hussey, Roger 1942- (VerfasserIn), Ong, Audra Wei-Ming ca. 20./21. Jh (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	New York, New York (222 East 46th Street, New York, NY 10017) Business Expert Press 2018
Ausgabe:	Second edition
Schriftenreihe:	Financial accounting and auditing collection
Schlagworte:	Financial Accounting Standards Board International Accounting Standards Board Accounting / Standards Accounting / Standards / United States
Online-Zugang:	FHN01 FWS01 FWS02 UBY01 Volltext
Zusammenfassung:	1. The development of national accounting -- 2. The move to international accounting -- 3. The convergence project -- 4. Standards of dissent -- 5. The end and the beginning -- Notes -- References -- About the authors -- Index For many years, individual countries decided their own rules and regulations for company financial accounting and reporting. As the world became more global, problems began to arise. A company could make a profit for the year if the rules in its own country were applied, but this could turn into a loss if another country's rules were used. This did not make sense. Investors were hesitant to buy shares in foreign companies, trading businesses were careful when the financial stability of foreign suppliers and customers could not be established, and companies wanting to list on a foreign stock exchange, for example, New York, experienced difficulties. To prevent this confusing and misleading state of affairs, attempts were made at the international level to agree on what the rules, known as accounting standards, should be for financial accounting and reporting. Those standards are now issued by the International Accounting Standards Board (IASB). From 2002, the standard setter in the United States, the Financial Accounting Standards Board (FASB), was actively engaged with the IASB in attempting to converge U.S. regulations with international accounting standards. Although several successes were achieved, the "convergence project" faltered and faded away in 2014. These events are important not only to accountants, but to everyone who has been dealing with a company. This could be investors, employees, customers, banks, suppliers, and the tax authorities. If you are interested in the financial performance and status of a company, you need to understand the accounting rules, their changes, and the reasons they pursue an international set of standards
Beschreibung:	Includes bibliographical references (pages 147-156) and index
Beschreibung:	Online-Ressource (x, 163 pages)
ISBN:	9781947098947 9781947098930