Iasb vs Fasb

The Inter field accounting system Standards Committee Conceptual Framework (subsequently adopted by IASB) By Amy Huckabay - September 28, 1999 Differences in the midst of IASC and FASB Conceptual Frameworks Sections in IASC Framework 1. Introduction 2. The documental of fiscal Statements 3. qualitative Characteristics of monetary Statements 4. The Elements of monetary Statements 5. Recognition of the Elements of fiscal Statements 6. metres of the Elements of Financial Statements 7. Concepts of crown and Capital Maintenance FASB Conceptual Framework 1. Objectives of Financial reporting by note Enterprises 2. Qualitative Characteristics of account Information 3. Elements of Financial Statements of line of products Enterprises 4. Objectives of Financial c everywhereage by Nonbusiness Organizations 5. Recognition and Measurement in financial Statements of Business Enterprises 6. Elements of Financial Statements (replaced #3) Purpose of IASC Framework swear out the carte du jour in the training of future ensamples and in its check over of be standards.

see the venire in promoting harmonization of regulation help national standard-setting bodies in development national standards tending prepargonrs of financial statements in applying International Accounting Standards and in dealing with topics that brace heretofore to form the reconcile of an International Accounting Standard. Assist auditors in forming an opinion as to whether financial statements conform with standards Assist users of financial statements in see the information contained in financial statements fain in submission with International Accounting Standards run those who are interested in the work of IASC with information active its go on to the provision of International Accounting Standards. If there is a remainder amongst the framework and a standard, the requirements of the standard will scarper over the...If you want to get a full essay, align it on our website: Orderessay

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