The 1970s and 1980s-An International Standard-Setting Body Takes Root, and the FASB Begins to Collaborate Mueller, who later became an FASB member (1996). International Accounting (New York: Macmillan, 1967) was the first textbook on international accounting. 1967-The First Textbook on International Accounting Is Published The group was active for about 10 years, producing studies of differences in 20 areas of accounting that also included conclusions on best practices. The AICPA and its counterparts in the United Kingdom and Canada formed a group to study the differences among their standards. ![]() 1966-Accountants International Study Group Is Formed In 1964, the Committee completed a review of accounting standards internationally, published as Professional Accounting in 25 Countries ( AICPA). The goal of that Committee was to establish programs to improve the international cooperation among accountants and the exchange of information and ideas, with the idea those efforts might perhaps lead to eventual agreement on common standards. Likely in reaction to the 8 th International Congress of Accountants, the AICPA reactivated its Committee on International Relations. 1962-The AIPCA Reactivates its Committee on International Relations Many participants urged that steps be undertaken to foster development of auditing, accounting, and reporting standards on an international basis. The discussion focused on the world economy in relation to accounting. The American Institute of Certified Public Accountants (AICPA) hosted the 8 th International Congress of Accountants. 1962-8 th International Congress of Accountants Is Held-Many See a Need for International Accounting and Auditing Standards Interest in international accounting began to grow in the late 1950s and early 1960s due to post World War II economic integration and the related increase in cross-border capital flows. The 1960s-Calls for International Standards and Some Early Steps Explores Adopting International Accounting Standards
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