Norwalk Agreement

Norwalk Agreement

Norwalk Agreement refers to a Memorandum of Understanding signed in October 2002 between the Financial Accounting Standards Board(FASB), the US standard setter,and the International Accounting Standards Board (IASB).[1] The agreement is so called as it was reached in Norwalk.

The Agreement was a significant step towards the US formalising its commitment to the convergence of US GAAP and International Financial Reporting Standards.

In the Press Release that announced the Agreement, Robert H. Herz, chairman of the FASB commented “The FASB is committed to working toward the goal of producing high quality reporting standards worldwide to support healthy global capital markets”.

The Agreement set out a number of initiatives, including a move to eliminate minor differences between US and international standards, a decision to align the two Boards’ future work programmes and a commitment to work together on joint projects.

References

  1. ^ Text of the agreement.

Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Norwalk Agreement — Das Norwalk Agreement ist ein 2002 unterzeichnetes Memorandum of Understanding zwischen dem FASB (verantwortlich für US GAAP) und dem IASB (verantwortlich für die IFRS) zur Konvergenz der beiden Rechnungslegungsstandards. Es wurde nach dem… …   Deutsch Wikipedia

  • Norwalk — is the name of several places in the United States of America: Norwalk, California, a suburb of Los Angeles Norwalk, Connecticut, a city in southwestern Connecticut that contains several neighborhoods including Central Norwalk, East Norwalk,… …   Wikipedia

  • Norwalk City School District — is a public school district serving students in the city of Norwalk, parts of Bronson Township, and Norwalk Township in Huron County, Ohio, United States. The school district enrolls 2,859 students as of the 2007 2008 academic year.[1] Contents 1 …   Wikipedia

  • History of Norwalk, Connecticut — This is an article on the history of Norwalk, Connecticut. For history of the state see the article History of Connecticut. Archaeological evidence suggests substantial pre contact Norwalk inhabitancy by human beings; artifacts found near Ward… …   Wikipedia

  • International Financial Reporting Standards — (IFRS) are standards and interpretations adopted by the International Accounting Standards Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IAS were issued between… …   Wikipedia

  • United States Generally Accepted Accounting Principles — Die United States Generally Accepted Accounting Principles (US GAAP [gæp]; deutsch: „Allgemein anerkannte Rechnungslegungsgrundsätze der Vereinigten Staaten “) sind US amerikanische Rechnungslegungsvorschriften und allgemein anerkannte… …   Deutsch Wikipedia

  • New Haven Line —      New Haven Line New Haven bound M8s pass through Port Chester, NY Overview …   Wikipedia

  • Darien, Connecticut —   Town   Rings End Bridge …   Wikipedia

  • Connecticut Company — (blue) and other New Haven electric railway subsidiaries The Connecticut Company was the primary electric street railway company in the U.S. state of Connecticut, operating both city and rural trolleys and freight service. It was controlled by… …   Wikipedia

  • Connecticut — This article is about the U.S. state of Connecticut. For the river, see Connecticut River. For other uses, see Connecticut (disambiguation). State of Connecticut …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”