Accounting Détente Delayed

I think this is true — what do you think.  The hype is ONE combined governance, but how is it possible when business and government from country to country can be very diverse?  The users are apples, oranges, pears, kumquats, etc.

Excerpt: In the world of accounting, the dream of having just one decider, whose rules would apply everywhere, has repeatedly been endorsed by major governments around the world. Just last month, the Group of 20 countries reaffirmed support for “continuing work to achieve convergence to a single set of high-quality accounting standards.”

But it is not going to happen. There will be at least two major deciders — the Financial Accounting Standards Board in the United States and the International Accounting Standards Board in many other countries.

Read full article via Accounting Détente Delayed – NYTimes.com.

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