Document Type
Conference Proceeding
Publication Date
2014
Description
In an effort to harmonize worldwide accounting standards, the two primary parties, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), are taking a topic-by-topic approach in an attempt to develop accounting standards that are acceptable to both bodies. Upon completion of this project, the similar accounting standards will be used worldwide. However, the harmonization of accounting standards is made more difficult by the different approaches taken toward accounting standards setting. The FASB uses a rulesbased approach to standard setting while the IASB uses a principles-based approach. The current project under discussion by the two boards is one of the more difficult areas to harmonize - accounting for leases.
Location
Nashville, TN
Citation Information
Morgan, Robert G.; Pointer, Martha M.; and Berg, Gary G.. 2014. FASB and IASB Harmonization of Leases. Proceedings of the Joint Meeting of the Academic Business World International Conference & International Conference on Learning and Administration in Higher Education, Nashville, TN. 205-211.
Copyright Statement
This document was published with permission from the publisher. It was originally published in the Proceedings of the Joint Meeting of th Academic Business World International Conference and International Conference on Learning and Administration in Higher Education.