The Future of Financial Reporting Descriptive Essay by Top Papers

The Future of Financial Reporting
A look at new approaches to accounting and financial reporting.
# 131801 | 1,750 words | 0 sources | 2007 | US
Published on Dec 01, 2007 in Accounting (Financial)


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Description:

This paper examines how the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have decided to revise their conceptual frameworks for financial reporting and accounting. According to the paper, the present framework of both boards will be broader and expansive so as to develop a conceptual framework, which both Boards can use as an outline for new and revised accounting standards. This amalgamation is described as very important since as markets become more international in scope, there is a need for global accounting standards that are consistent irrespective of the geographical boundaries.

From the Paper:

" The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have decided to revise their conceptual frameworks for financial reporting and accounting. Ideally, the present framework of both boards will be broader and expansive so as to develop a conceptual framework, which both Boards can use as an outline for new and revised accounting standards. This amalgamation is very important since a markets become more international in scope, there is a need fro global accounting standards that are consistent irrespective of the geographical..."

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APA Format

The Future of Financial Reporting (2007, December 01) Retrieved January 19, 2022, from https://www.academon.com/descriptive-essay/the-future-of-financial-reporting-131801/

MLA Format

"The Future of Financial Reporting" 01 December 2007. Web. 19 January. 2022. <https://www.academon.com/descriptive-essay/the-future-of-financial-reporting-131801/>

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