Problem: The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are currently working on a joint venture referred to as the convergence project.
Write describing the relationship between the IASB and the FASB. Include the following in your paper:
- A brief history of the relationship between the two boards and the IASB equivalents of the FASB original pronouncements
- An explanation of how the MSA program prepares the student for a professional life within the accounting vocation