Members of the Financial Accounting Standards Board held a two-day meeting this week with officials from the Accounting Standards Board of Japan how they could better align accounting rules.
The meeting on Monday and Tuesday was the 12th in a series of discussions between the two national standard-setting boards, which are now meeting on a biannual basis. They also come in the context of a delayed decision by the Securities and Exchange Commission on whether it will incorporate International Financial Reporting Standards into the U.S. financial reporting system.
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