Analysis: U.S. remains a hurdle to aligning accounting rules

04/27/2012 | Reuters

The International Accounting Standards Board and the Financial Accounting Standards Board have been converging major accounting standards for several years, and have passed the original target date of June 2011 for completion. Finance ministers from 20 countries finally gave the boards a deadline recently, demanding they finish alignment by mid 2013 at the latest. Even if they do, it is unclear whether the U.S. will move to incorporate international accounting standards in the near future.

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