Convergence One Sentence at a Time

In the February 2013 edition of the Journal of Accountancy, Paul Pacter gives an excellent summary of the sucesses acheived by the IASB and FASB in their convergence efforts.

Mr. Pacter should know of what he speaks. In his over 40 year professional and academic accounting career, Mr. Pacter has worked with both the IASB, as a Board member, and the FASB, as a member of the Board’s full-time staff.

In his article, Mr. Pacter examines the outcomes of many of the key joint IASB/FASB convergence projects. His observations are summarized in a clear and concise multi-page table that, for each project, lists the actions taken, the convergence outcome, and whether that outcome improved IASB guidance.

Mr. Pacter’s article can be downloaded from the Journal of Accountancy website at

About docjonz

I am an Associate Professor of accounting at Hofstra University in Hempstead, NY. Additionally, I have more than 30 years of professional accounting experience in various capacities including auditing, accounting standard setting and corporate accounting policy.
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