FASB, IASB expected loss proposals won’t match, but Seidman still hopes for convergence

12/21/2012 | JournalofAccountancy.com

Financial Accounting Standards Board Chairman Leslie Seidman hopes her board can still find a converged solution to expected credit losses with the International Accounting Standards Board. Although FASB on Dec. 20 released an exposure draft that will differ from the one the IASB plans to release in the first quarter of this year, Seidman said FASB will review comments on both proposals in hopes of finding a converged approach to impairment in the accounting for financial instruments project.

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