One Set Of Accounting Standards In Use Throughout The World In The Next Five Years

Global Accounting Standard

Attaining worldwide union of accounting standards is a very restraining thing, and many continue to raise this question that whether it is possible or not .the Financial Accounting Standards Board of USA and its predecessors have worked for almost 50 years to attain the objective of a comprehensive set of rule rules-based accounting standards for U.S GAAP. The IFRS is a principle based system IFRS is the international standard for accounting. For the last five years Financial Accounting Standards Board (FASB) has worked with the ...