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Provide an explanation of how the convergence and the Concept Framework Project impacts accountants. Explain at least one benefit and one drawback of the convergence

Provide an explanation of how the convergence and the Concept Framework Project impacts accountants. Explain at least one benefit and one drawback of the convergence of IASB and FASB.

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http://www.ifrs.org/Current-Projects/IASB-Projects/Conceptual-Framework/Documents/May%202015/ED_CF_MAY%202015.pdf

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