Do you think the move towards international accounting standards is well justified? (1 Viewer)

[Cookie182]

This ain't an assignment or anything, we were just discussing it in class, was interested in what you guys think. Do you think the IASB's aim to converge standards internationally into a global, principle based approach is a good idea or do you think the FASB will win out and hold it's rule based standards?

 

[08er]

Re: Do you think the move towards international accounting standards is well justifie

I just started accounting so my knowledge is limited but the reason to move towards international standards is so that countries can just rely on one universal set of standards rather than on its own as well as others? if that's the case then i guess it's a good move towards efficiency