What is the role of international accounting standards board

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Question -

What are the differences between IFRS reporting and US GAAP?

Why is an understanding of the differences important to businesses operating in the global marketplace?

How can these differences affect the overall financial statements?

What is the effect on the financial statements using the revenue recognition method?

What is the role of the International Accounting Standards Board (IASB) in establishing International Financial Reporting Standards (IFRS)?

What role does IASB play in efforts to converge accounting standards between itself and Financial Accounting Standard Board (FASB)?

Reference no: EM133145740

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