Iasb vs Fasb

The Inter field Accounting Standards Committee conceptual poser (subsequently adopted by IASB) By Amy Huckabay - September 28, 1999 Differences between IASC and FASB Conceptual frame dos Sections in IASC Framework 1. Introduction 2. The Objective of fiscal Statements 3. soft Characteristics of financial Statements 4. The Elements of financial Statements 5. Recognition of the Elements of Financial Statements 6. beats of the Elements of Financial Statements 7. Concepts of large(p) and Capital Maintenance FASB Conceptual Framework 1. Objectives of Financial reporting by note Enterprises 2. Qualitative Characteristics of Accounting Information 3. Elements of Financial Statements of Business Enterprises 4. Objectives of Financial Reporting by Nonbusiness Organizations 5. Recognition and Measurement in financial Statements of Business Enterprises 6. Elements of Financial Statements (replaced #3) Purpose of IASC Framework Assist the carte du jour in the development of future standards and in its review of be standards.

Assist the board in promoting harmonization of regulation Assist subject field standard-setting bodies in developing national standards Assist prepargonrs of financial statements in applying external Accounting Standards and in dealing with topics that have heretofore to form the subject of an outside(a) Accounting Standard. Assist auditors in forming an opinion as to whether financial statements conform with standards Assist users of financial statements in interpreting the selective information contained in financial statements fain in conformity wi! th planetary Accounting Standards Provide those who are interested in the work of IASC with information about its go on to the formulation of International Accounting Standards. If there is a remainder between the modeling and a standard, the requirements of the standard will scarper over the...If you indispensableness to get a full essay, align it on our website: BestEssayCheap.com

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