If you think you understand IAS 39, "Financial Instruments: Recognition. and Measurement," then you haven’t read it, according to Sir David Tweedie, chairman of the International Accounting Standards Board.

Tweedie said that the convergence of accounting standards around the world is necessary for the free flow of capital and the development of “strong, stable, and deep financial markets which encourage investment and growth,” but could not be implemented under a detailed rules-driven approach.

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

Don't have an account? Register for Free Unlimited Access