The death of an accounting dream
It’s over. Work on a single set of global accounting standards continues, but the 12-year dream is dead, according to many stakeholders. The question is what happens next – and none of the answers are pretty. By Lukas Becker
Convergence is an ugly word for a beautiful idea – or, as beautiful an idea as you'll find in the awkward, angular world of accounting. Simply put, it is the attempt to create a common language, removing the barriers that separate US financial statements from those produced in the 120 member countries of the International Accounting Standards Board (IASB) – a vision that has united issuers
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