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Convergence

Title Description
Financial instruments — Classification and measurement (inactive) This project is one aspect of the comprehensive Financial Instruments project, which is a joint project with the IASB. The objective of the financial instruments project is to improve financial instrument reporting for users of financial statements. This aspect of the comprehensive project focuses on the recognition, classification, measurement, and presentation of financial instruments.
Financial instruments — Impairment (inactive) This project is one aspect of the comprehensive Financial Instruments project, which is a joint project with the IASB.
Financial instruments — Comprehensive project (inactive) This is a multifaceted joint IASB-FASB project to rewrite the requirements for accounting for financial instruments, which consists of a number of sub-projects.
Financial instruments: Hedge accounting (inactive) The objective of this project is to research the scope of hedge accounting. The project will also research practice issues, improvements to the hedging accounting model and associated disclosures, and identifying differences in the accounting for derivative instruments and hedged items or transactions.
IASB-FASB convergence This is an overarching joint IASB-FASB project designed to eliminate a variety of differences between IFRSs and U.S. GAAP.
Leases This joint IASB-FASB project seeks to improve the accounting for leases by developing an approach that is more consistent with the conceptual framework definitions of assets and liabilities.
Revenue recognition The FASB and IASB issued a joint standard "Revenue From Contracts With Customers" (ASC 606 and IFRS 15, respectively).

Correction list for hyphenation

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