FASB Project related to global reporting financial standards
Not what you're looking for?
What is the issue of the project and why is it currently relevant. What action has been taken to date and what are the next steps going to be? What potential challenges are faced by the FASB?
http://www.fasb.org/project/financial_statement_presentation.shtml
See attached file for full problem description.
Purchase this Solution
Solution Summary
The solution briefly discusses how the situation of international reporting standards arose, and the necessity to consolidate reporting on a similar basis for international business.
Solution Preview
The globalization of business has been highly effective in making use of regional resources and expertise to minimize costs while enhancing profits. On the marketing side, globalization has provided extended consumer markets for products and services. While it is true that some economies are better providers of resources and others are better consumers, it is noteworthy that there is enough diversity in world markets to accommodate both in efficient business transactions.
This is nothing new, but the extent of cross-cultural business activities has grown immensely in recent decades. The formation of the EU probably centered on minimizing trading barriers for member nations. The standardization of the currency was only one of the consequences of forming a trading bloc of countries. The world of business has come a long ways towards figuring out the logistics and the financing of global ...
Purchase this Solution
Free BrainMass Quizzes
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Operations Management
This quiz tests a student's knowledge about Operations Management
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.