Convergence and the Conceptual Framework

Select at least two convergence topics from the 2006 Memorandum of Understanding (and the 2008 progress report) and write a paper analyzing how the convergence of FASB and IASB rules or standards have developed to create to a common framework as outlined in the Conceptual Framework Project. In addition, include aspects of accounting theory that are being applied in the topics selected.

References:

http://www.fasb.org/intl/MOU_09-11-08.pdf

http://www.ifrs.org/Use-around-the-world/Global-convergence/Convergence-with-US-GAAP/Documents/MoU.pdf