Please visit www.sec.gov or any other FASB and IFRS related website and provide: The current status of
Question:
Please visit www.sec.gov or any other FASB and IFRS related website and provide:
The current status of the convergence process between FASB (USA) and IASB.
The list of countries that have adopted IFRS with their legal systems in those countries as shown below:
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EXHIBIT 2.4 Relationship between Several Domestic Listed Companies Per Million of Tax Conformity Number Population Legal System Country Factors Influencing Accounting Diversity Yes 5.1 Code Code Code 296 Italy Germany Japan United Kingdom Australia Yes Yes 9.5 783 18.4 2,335 2,792 1,966 3,700 Sources: Number of domes- tic listed companies obtained from World Federation of Exchanges (2009), www. world-exchanges.org. Coun- try populations obtained from CIA World Fact Book (2010). No 45.6 Common No 91.4 Common No 109.6 Canada Common
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Convergence between IFRSs and US GAAP The IASB and the US Financial Accounting Standards Board FASB have been working together since 2002 to achieve c...View the full answer
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