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ACC440_COOKE_WEEK2 - A manager you work for is making a...

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A manager you work for is making a business trip to London. The manager has several meetings at the company’s operating units in London. In addition, the manager is considering a visit to the International Accounting Standards Board (IASB) office in London. The manager has asked you to perform some research on the IASB so that he will have some background information for his visit. The International Accounting Standards Committee Foundation (IASC) is a foundation found in the 1970’s. The committees’ objective is to develop a single set of high quality, understandable enforceable and globally accepted financial reporting standards based upon clearly articulated accounting principles (ISAB.org, 2010). This objective is accomplished in five different ways: (ISAB.org, 2010). An independent standard-setting board, overseen by a geographically and professionally diverse body of trustees, publicly accountable to the Monitoring Board of public capital market authorities Supported by an external standards advisory council (SAC) and an interpretations
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