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Project Report from the year 2012 in the subject Business economics - Accounting and Taxes, grade: 100, Argosy University, course: Contemporary Accounting Theory (B7630), language: English, abstract: The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) set out to complete their ambitious goal of convergence before the year of 2015. The author provides an outline of these efforts, emphasizing the importance and ramifications of International Accounting Standards (IAS) as a means to globally improve quality and clarity of financial reporting...