FASB vs the IASB

This video compares the Financial Accounting Standards Board (FASB) to the International Accounting Standards Board (IASB).  The FASB is the standard-setter for Generally Accepted Accounting Principles (GAAP) in the United States.  The IASB is the standard-setter that creates International Financial Reporting Standards (IFRS), which have been adopted by more than one hundred countries.  The FASB and the IASB have a similar structure:  each has a set of board members that are selected by a foundation that also provides oversight.  Both the FASB and the IASB are also supported by an advisory council and an organization the addresses issues of divergent accounting practice (for the FASB this is the Emerging Issues Task Force; for the IASB this is the IFRS Interpretations Committee).  The size of the IASB board is roughly double the size of the FASB board because the IASB has members from around the world.—
Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world.
—
SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS:
• A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING
• A 44-PAGE GUIDE TO U.S. TAXATION
• A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS
• MANY MORE FREE PDF GUIDES AND SPREADSHEETS
* http://eepurl.com/dIaa5z
—
SUPPORT EDSPIRA ON PATREON
*Patreon: prof_mclaughlin
—
GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT
* https://edspira.thinkific.com
—
LISTEN TO THE SCHEME PODCAST
* Apple Podcasts: https://podcasts.apple.com/us/podcast...
* Spotify: https://open.spotify.com/show/4WaNTqV...
* Website: https://www.edspira.com/podcast-2/
—
GET TAX TIPS ON TIKTOK
* TikTok: prof_mclaughlin
—
ACCESS INDEX OF VIDEOS
* https://www.edspira.com/index
—
CONNECT WITH EDSPIRA
* Facebook: Facebook: Edspira
* Instagram: Instagram: edspiradotcom
* LinkedIn: LinkedIn: edspira
—
CONNECT WITH MICHAEL
* Twitter: Twitter: Prof_McLaughlin
* LinkedIn: LinkedIn: prof-michael-mclaughlin
—
ABOUT EDSPIRA AND ITS CREATOR
* https://www.edspira.com/about/
* https://michaelmclaughlin.com

• #education
• #fasb
• #financial_accounting_standards_board
• #iasb
• #international_accounting_standards_board
• #gaap
• #generally_accepted_accounting_principles
• #accounting
• #financial_accounting
• #international_financial_reporting_standards
• #ifrs