Full organization structure and details can be found at the link provided in related link section below.
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IASB means International Accounting Standard Board.
Indian accounting standards are developed by Indian board and only applicable in India while international accounting standards are developed by International Accounting standard board and applicable to all countries.
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The current principle is the FASB (Financial Accounting Standards Board). This standard is the current adopted standard to the USA.
The International Accounting Standards Board is a new accounting standard. Its purpose is to become the global standard of accounting. It has not been fully adopted yet.
Structure diagram
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The function of the International Accounting Standards Board is to oversee the doings of Accountants and businesses worldwide. The Board handles the functions of in house police over companies and individuals that come under their purview.
IASB means International Accounting Standard Board.
Indian accounting standards are developed by Indian board and only applicable in India while international accounting standards are developed by International Accounting standard board and applicable to all countries.
There are a few places where one can find out information about the International Accounting Standards Board. Such places include: The direct website, company accounts, and numerous accounting standard websites.
International accounting standard board is responsible for standards more information athttp://www.iasb.org/Home.htm
The International Accounting Standards Board (IASB) is an independent group of 15 experts with an appropriate mix of recent practical experience of standard-setting, or of the user, accounting, academic or preparer communities.Source: IASB website
The International Accounting Standard Committee (IASC) oversees the functions of the International Accounting Standards Board in the development of accounting standards that can be adopted by businesses operating in different countries. The goal of this project is to make it easier to compare the financial statements of a business in Country A with those of a business in Country B, providing more useful information to investors who are deciding which companies to invest in.
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