Evolution of the IASC into the IASB -- Setting up the IASB -- The first wave of jurisdictional adoptions of IFRSs -- The IASB sets its agenda : 'improvement, convergence, leadership' -- Financial instruments : the confrontation with Europe -- The IASC foundation's first constitution review :...

The 1972 report of the Wheat Study on Establishment of Accounting Principles became the blueprint for the Financial Accounting Standards Board (FASB), which began its official operations on July 1, 1973, succeeding the Accounting Principles Board. The FASB was the world's first independent,...