Convergence of Accounting Standards Custom Essay

Convergence of Accounting Standards To ensure professionalism in accounting, there must be a set of standards to be adhered to in executing various transactions. Globally, there is a stream of various accounting standards in different countries, which include the US GAAP, IAS, UK GAAP, and many others. However, to ensure uniformity in carrying out various transactions, it is important to have convergence of accounting standards.