FASB and IASB Convergence: Implications for Investment Funds

October 2008
Securities Industry News;10/6/2008, Vol. 20 Issue 35, p4
Trade Publication
The author comments on the implications of the commitment to converge U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) for investment funds. He discusses the importance for investment companies to understand the differences and potential impact of financial statements prepared under IFRS and investment company GAAP. The comparative analysis of the characteristics of various aspects of GAAP versus the IFRS are discussed.


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