FASB and IASB convergence projects at-a-glance

We recently issued FASB and IASB convergence projects at-a-glance, a high-level overview of four convergence projects currently being worked on by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB). These projects will bring significant changes to the authoritative accounting literature on leases, financial instruments, revenue recognition and consolidation. All parties involved in the financial reporting process should be tracking these projects given the degree to which their responsibilities and activities will be affected when the projects are completed. The overview is based on information available as of January 15, 2013, and is time sensitive given the ongoing deliberations on these projects and issues.