Posted: September 18th, 2017
Despite ongoing work by standard setters around the world, differences continue to divide. A current example involves lease accounting, which has now been under consideration for 5 years. Although there is consensus that leased assets should go on the statement of financial position, the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) are going different ways over definitions and treatment. In June 2014, the FASB vice-chairman James L Kroeker said ‘Differences in standards will persist because of the legal, regulatory and cultural differences between different jurisdictions’.
Do you want your assignment written by the best essay experts? Then look no further. Our team of experienced writers are on standby to deliver to you a quality written paper as per your specified instructions. Order Now, and enjoy an amazing discount!!
Place an order in 3 easy steps. Takes less than 5 mins.