Business, Management and Accounting
4 years ago

Global Accounting Standards Evolution to Meet People's Information Needs

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Routledge eBooks
Accounting Standard Setting.. A New Beginning Evolution, Not Revolution 1
Edward Stamp

Paper Summary

Accounting standards are important for providing information to help people make economic decisions. The process of setting these standards has evolved over time, with the Financial Accounting Standards Board taking over in the US in 1973. The goal is to reduce differences in financial reporting and ensure consistency.

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