Nov 8, 2010 | Standards Convergence
October 2002 was a significant year in the history of accounting. The Norwalk Agreement , a memorandum of understanding was announced by Financial Accounting Standards Board and the International Accounting Standards Board (IASB). This was a significant step towards...Nov 3, 2010 | Standards Convergence
In an effort to align US GAAP to IFRS, FASB is considering expanding the fair- value accounting to land and buildings held for investment. The biggest impact of the change will be on real estate companies and real estate investment trusts. At present such assets are...