ASBJ and FASB meet to discuss convergence

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29 Aug 2011

Representatives of the Accounting Standards Board of Japan (ASBJ) and the Financial Accounting Standards Board (FASB) met on 18-19 August 2011, in Tokyo, Japan.

This meeting was the eleventh in a series of discussions between the ASBJ and the FASB.

At this meeting, the ASBJ and the FASB updated each other with the recent developments in their respective convergence projects with the IASB. Furthermore, the ASBJ and the FASB exchanged views on the financial instruments, revenue recognition, leases and insurance contracts projects being undertaken by the FASB and the IASB.

The next joint meeting is planned in the first quarter of 2012 in Norwalk, Connecticut. Click for:

 

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