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Issue 5(1), October 2010 -- Paper Abstracts

Girard  (p. 9-22)

Cooper (p. 23-32)

Kunz-Osborne (p. 33-41)

Coulmas-Law (p.42-46)

Stasio (p. 47-56)

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JOURNAL OF APPLIED BUSINESS AND ECONOMICS

Convergence of Accounting Standards World Wide - An Update

Author(s): Consolacion L. Fajardo

Citation: Fajardo Consolacion L., (2016)"Convergence of Accounting Standards World Wide - An Update," Journal of Applied Business and Economics, Vol. 18, Iss. 6, pp. 148-160

Article Type: Research paper

Publisher: North American Business Press

Abstract:

This paper provides an update on the convergence efforts of the International Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB). In an earlier published paper (2007), the author explored the process of convergence and after nine (9) years would like to incorporate additional information. It will attempt to answer two questions: What are perceived benefits of convergence? What are the obstacles encountered in implementing convergence? The expectation is that increased reliability, consistency, comparability, and transparency of accounting information brought about by convergence of accounting standards would result in more informed decision-making by users of financial reports.