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International Accounting Standards Board (IASB)

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

The independent organization based in the UK which develops the International Financial Reporting Standards (IFRS). The IASB has been working with the Financial Accounting Standards Board (FASB), which is based in the U.S., to “converge” each organization’s reporting standards. The goal is to ultimately have a single set of global accounting standards.

Dictionary

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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