As Mentioned in Chapter 1, the Project on Business Combinations

question 12

Essay

As mentioned in Chapter 1, the project on business combinations was the first of several joint projects undertaken by the FASB and the IASB in their move to converge standards globally.Nonetheless, complete convergence has not yet occurred, and there are those who believe it to be a poor idea.Discuss the reasons for and against global convergence.

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Definitions:

As-needed Basis

A method or arrangement where resources are utilized or tasks are performed as and when required, rather than on a scheduled or continuous basis.

Cash Management

The process of collecting, managing, and investing a company’s cash and cash equivalents.

Appropriate Level

A suitable or optimal degree or magnitude for a particular situation or parameter, often used in finance and operations.

Cash On Hand

Funds that a company or individual has available in cash form, not invested or deposited in financial institutions.