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Abstract

The United States Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) do not always see eye-to-eye. They are in complete agreement, however, on the two major – and quite distinct – functions of business accounting:
  1. (1)

    stewardship reporting on “the custody and safekeeping” of resources; and

     
  2. (2)

    performance reporting on “their efficient and profitable use”.1

     

Keywords

Financial Account Standard Board International Account Standard Board Accounting Period Accounting Return True Return 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Robert Anthony Rayman 2013

Authors and Affiliations

  • R. A. Rayman

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