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Unformatted text preview: Supply of Accounting Information Primary SEC filing requirements Form 10­K: annual Form 10­Q: quarterly Benefits of disclosure Lower costs of funds and labor Economic benefits form reliable disclosures Costs of disclosure Preparation and dissemination, competitive disadvantages, litigation potential, and political costs ©Cambridge Business Publishers, 2013 International Accounting Standards and Convergence The International Accounting Standards Board (IASB) oversees the development of accounting standards for a vast number of countries outside the U.S. At a joint meeting in 2002, the FASB and the IASB each acknowledged their commitment to the development of high­quality, compatible accounting standards that could be used for both domestic and cross­border financial reporting. At that meeting, both the FASB and IASB pledged to use their best efforts to (a) make their existing financial reporting standards fully compatible as soon as practicable and (b) to coordinate their future work programs to ensure that once achieve...
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