FASB, IASB form performance reporting working group.

• Position: FASB News - Financial Accounting Standards Board forms international group with International Accounting Standards Board - Brief Article

FASB and the IASB have formed an international group working to help to forge new financial reporting standards.

The group will help the boards set standards for the presentation of information in financial statements as the two bodies continue to seek international convergence.

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Representatives of all types of entities are present in the working group, except one. The boards have not appointed representatives from financial institutions in the preparer...