Consolidation Policies and Procedures

Consolidation Policies and Procedures

Introduction

The primary actions of the (IASB) International Accounting Standards Board and the US Financial Accounting Standards Board (FASB) are gradually moving towards the direction of the completion of their joint project. Both the Boards are projected to shortly commence re-deliberations of their next exposure draft (ED) on the recognition of revenue, and carry on the process of re-deliberations with other important ventures. For instance, one of the important ventures “the financial instrument project” primarily deals with the categorization and dimension, mutilation, offsetting and hedging.

Discussion

With the implementation of these joint projects both the Boards are ...