Accounting Body Wants Global Standards
November 12, 2008
By the My MBA Career Content Team – Find Top MBA Degree Programs
President Bush and other world leaders have been urged by the International Accounting Standards Committee Foundation to honor the standards-setting process and fair value accounting, it has been reported.
The Chairman of the board of trustees of the foundation, Gerrit Zalm, has asked the President to address the issue when he meets with leaders of the G20 countries on November 15th in Washington DC.
He supported the opinion of his International Accounting Standards Board (IASB) - a body you may already be aware of - that common benchmarks need to be implemented worldwide in order to ensure convergence among the economics of major countries, the letter states.
You may have already acknowledged that stricter standards may be required and have considered using this opportunity to apply to an online MBA accounting course to further research the principles while experiencing them in real life.
Continuing, Zalm writes: "The role of fair value accounting in the credit crisis has received much scrutiny. The trustees support the ISAB's efforts to establish accounting standards aimed at providing transparent and comparable financial information."
Meanwhile, in further international news, Ghana Web reports that the Institute of Professional Studies in Ghana is to launch MBA programs in financial accounting.
Find a Top Online MBA Program Today – Getting Your Online MBA is One Step Away!
Related Article Topics: Finance
