Current Developments in the Activity of IASB
Author:
Otilia MANTELERS, ACCA
JEL:
DOI:
Keywords:
IFRS – US GAAP Convergence; Exposure Draft, Discussion Paper, Business Combinations, Valuation using Fair Values, Provisions
Abstract:
Several years ago, International Financial Reporting Standards (IFRS) were a distant possibility. Today, the reality is far different. We are in a dramatic shift that is fast making IFRS the most accepted accounting model in the world.\r\nAs the business environment becomes increasingly global and companies routinely list on stock exchanges in many countries, the need for consistent worldwide reporting standards intensifies. IFRS, which are now compulsory for EU listed companies, clearly address this issue.