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Question 1 The IASB and the FASB are currently engaged in several efforts to attain a uniform set of international accounting standards. Among these efforts
Question 1
The IASB and the FASB are currently engaged in several efforts to attain a uniform set of international accounting standards. Among these efforts are:
- The FASB's Short-term International Convergence Project
- The Norwalk Agreement
- The Roadmap to Convergence."
Discuss the three approaches and comment on their effectiveness in obtaining the desired outcomes
Question 2
Discuss the advantages and disadvantages of harmonizing accounting standards internationally.
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