Wall Street Journal Articles for International Accounting - Article Example

Only on StudentShare

Extract of sample
Wall Street Journal Articles for International Accounting

There is high likelihood that the streamlined standards will have major impact on the financial reporting over a wide cross-section of organizations and industries. For this reason, it is important that various audit committee members remain updated on the progress of this initiative in order to identify areas of particular concern and facilitate smooth transition period from the old processes, systems, and financial reporting to newly adopted ones. The proposed revenue model requires recording of the amount of revenue in a pattern that reflects the transfer of control of the goods and or services in question. The FASB recently released a proposed Accounting Standard Update (ASU) touching on classification and measurement of financial instruments. This made with the object of increasing the convergence between US GAAP and IFRS and above all simplify classification methods. Concerning leasing accounting, the boards intend to provide an open and steady representation of leasing transactions in the financial statements by taking into consideration information relating to the rights and obligations that comes with lease contracts. ...
Download paper

Summary

International Accounting Instructor Date 1. Louis, K. (May 7, 2013). The Road to Convergence: Update for Audit Committees Two major accounting bodies in the country namely Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) are working closely on an important project to aimed at streamlining and converging a number of accounting standards…
Author : fiona98

Related Essays

International Accounting
4 pages (1004 words) Essay
Managerial Accounting: Reflective Journal
10 pages (2510 words) Coursework
Book Review: "One up on Wall Street" by Peter Lynch
12 pages (3012 words) Book Report/Review
Tyco International Accounting Issues
6 pages (1506 words) Research Paper
Research paper.
4 pages (1004 words) Research Paper
international accounting
6 pages (1506 words) Essay
International Accounting and Finance
10 pages (2510 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!