INTERNATIONAL FINANCIAL REPORTING STANDARDS DESK REFERENCE
The effort to achieve a single set of global accounting standards has gained
significant momentum during the past three years. The logic behind the development
of a single set of high-quality global accounting standards for the
world’s integrating capital markets has been evident for some time. The collapse
of Enron and other corporate failures in the United States and elsewhere
have led to the reevaluation of existing national and international accounting
practices and has served as a catalyst for work being undertaken at the International
Accounting Standards Board (IASB) in conjunction with national
standard setters throughout the world....
