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"Convergence Doesn't Necessarily Mean the Same."

The IASB and FASB are hoping to write accounting principles that match up word-for-word. But the devil may be in the rules governing implementation. Here are two examples.

November 5, 2009

The world's two most influential accounting rulemaking organizations sat down for a joint meeting last week to figure out how to resolve persistent differences in their standards. What's interesting, say experts, is that while the International Accounting Standards Board and the Financial Accounting Standards Board are working to craft identical accounting principles, differences in the rules governing the implementation of those principles remain. Read more...

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