Write a paper 10 pages in length explaining how the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) will work together (converge) to develop International Financial Reporting Standards (IFRS).
State the facts and identify differences between the methods.
Explain why this is needed in a global economy.
How will IFRS affect businesses?
Discuss how the convergence will impact decisions made by management.
Please use credible sources (not Wikipedia, Investopedia, or blogs).
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