Financial Accounting Standards Board chair Leslie Seidman said that many of the priority projects slated for convergence with the International Accounting Standards Board probably will not be settled until next year at the earliest.
In an interview with Accounting Today staff on Tuesday, Seidman commented on FASB’s progress in its convergence work with the International Accounting Standards Board, and the SEC’s eagerly anticipated decision on whether it will incorporate International Financial Reporting Standards into the U.S. financial reporting system. FASB and the IASB have repeatedly delayed the convergence timeline for their priority projects on revenue recognition, financial instruments, leasing and insurance contracts.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access