Explain the use of international standards, Accounting Standards

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Explain the use of international standards

Response to the following questions:

1. What agreement did the FASB enter into with the IASB? Why did it enter into this agreement?

2. What are the four related long-term convergence projects of the FASB and IASB?

3. What is the SEC considering doing in regard to U.S. companies filing with it and their use of international standards?

If possible, please give examples to better understand your response.

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Accounting Standards: Explain the use of international standards

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Accounting Standards: Explain the use of international standards

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