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The Shift Toward A Global Economy: Changes In Accounting Regulations To Repair A Broken Past And Lay A Solid Foundation For The Future, Drew Lewis
Senior Honors Theses
With the growth and development of a much more dynamic business market, many companies have seen opportunities to expand and profit. However, this has also led to much confusion over which specific regulations and entities should dictate how businesses should report and act. The Financial Accounting Standards Board and the International Accounting Standards Board have been working concurrently to provide a consistent standard that can be applied universally. Though there are many differences between the frameworks of the two organizations, compromises are being made to suit the general business realm.
The recent recession has also caused problems for the business …