Content area
Full Text
International Convergence
The Financial Accounting Standards Board and International Accounting Standards Board's project on leasing is expected to have the greatest impact on companies' accounting practices of the standardsetters' top priority projects for international standards convergence, according to a new PricewaterhouseCoopers survey
The 1,400 survey respondents PwC polled from midFebruary to mid-March ranked revenue recognition as the standard likely to have the second largest impact on their operations, with financial instruments third.
"All of the projects are expected to have a pervasive impact on a large share of companies of all sizes and in all industries," said the study, 2011 U.S. GAAP Convergence & IFRS Survey, which PwC issued April 19. "Given the nature...