X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

There are few promised outcomes that produce more skepticism than the prospect of two international bodies finding common turf for regulation. And when one looks at the realities facing the U.S.’s Financial Accounting Standards Board (FASB) and Europe’s International Accounting Standards Board (IASB), one can readily see why.

On Jan. 1, 2005–a mere 10 months and counting away–the IASB is scheduled to become the European Union’s accounting standard-setting body, with the adoption of the board’s International Financial Reporting Standards (IFRS) as the principles governing all companies accessing EU capital markets. Unfortunately, the convergence between the U.S. Generally Accepted Accounting Principles (GAAP) and these European standards seems essentially out of reach for the moment. While meaningful steps in this direction have been made, there remain two thorny issues–accounting treatment of derivatives and stock option expensing–that threaten not only convergence between the two continents on either side of the Atlantic, but also the ascendance of the IASB to the head of the regulatory pack in Europe.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.