International Accounting Standards Board (IASB)
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Write a report, providing your responses to the required portion of the case. Be sure to properly cite all resources used to write your report. If you use an electronic source, include the URL. If you use an additional printed source please attach a copy of the data to your paper.
CASE:
A manager you work for is making a business trip to London. The manager has several meetings at the company's operating units in London. In addition, the manager is considering a visit to the International Accounting Standards Board (IASB) office in London. The manager has asked you to perform some research on the IASB so that he will have some background information for his visit. (Hint: A helpful search term is "International Accounting Standards Board"). Locate the following information and incorporate this information into a two- to three-page report.
REQUIRED PORTION:
a. Provide a brief history or discussion of the IASB, making sure to include the following additional facts:
(1) The role of the IASC Foundation.
(2) Structure of the IASB.
(3) Number of accounting standards currently published.
(4) Explanation of the steps involved in creating an international accounting standard in accordance
with due process.
(5) Local mailing address and phone number.
b. Briefly summarize the two most recent accounting standards issued by the IASB.
Be sure to properly cite all resources used to write your report. If you use an electronic source, include the URL. If you use an additional printed source please attach a copy of the data to your paper.
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Solution Summary
This solution of 673 words explains the history, role, structure and other details of the International Accounting Standards Board (IASB). It also summarizes the two most recent accounting standards issued by the IASB.
Solution Preview
See attached file.
Thank you for selecting OTAs at BrainMass to assist you. Below is a working draft of your assignment, and you should now have the tools to aid you in customizing your work. Note that pursuant to your professor's instructions, references were used from the IASB, and properly cited in "quotations"...my words and notations have also been included without quotes. Feel free to cite me in addition to other references if needed.
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REQUIRED PORTION:
Be sure to properly cite all resources used to write your report. If you use an electronic source, include the URL. If you use an additional printed source please attach a copy of the data to your paper.
a. Provide a brief history or discussion of the IASB:
(See the attached.pdf)
In 2001, the IASC Foundation and IASB were formed (again, see the timeline in the attachment to expand more on their history).
The IASC Foundation is a not-for-profit, private sector body that raises funds to support the operations of the IASB as an independent accounting standard-setter.
Standards for the Board are received through inputs from:
* ...
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