International versus U.S. Standards Essay

In 2007, the SEC modified its position on the Form 20-F fatality when it issued Acceptance from Foreign Private Issuers of Financial Statements Prepared in Accordance with International Financial Reporting Standards without Reconciliation to GAAP. This rule amends Form 20-F to bear from foreign private issuers in their filings with the SEC financial statements prepared in accordance with International Financial Reporting Standards as issued by the International account statement Standards Board without reconciliation to generally accepted accounting principles as used in the United States._Required_What was the SECs rationale for this decision?How did the American account statement Association respond to the SEC proposal?CASE 3-8 IASB VS. FASB CONCEPTUAL FRAMEWORKSDiscuss the similarities and differences between the FASB and IASB conceptual frameworks with respect to the definitions of the elements of financial statements.CASE 3-9 IASC HOME PAGE enter onto the World Wide Web and enter the International Accounting Standards Boards star sign page._Required_a. What general categories of information are contained on the IASBs home page?b. What current issues is the IASB reviewing?FINANCIAL ANALYSIS CASEGAAP vs. International Accounting Standards_Required_Find a foreign company that is selling securities in the U.S. securities markets and input on the change in net income that was caused by changing from the companys domestic accounting standards to U.S. GAAP.