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Development of be Standards and IFRS Adoption in Korea Lee Jung-Kwon 20113433 Choi Yun-Seong 20113443 Ahmad Al-ghamdi 20113426 Bermet Kanybekova 20113658 Paek Soo-Jeong 20123515 Principles of history 2012 Team Project Professor Kim Yu-Ra November 27 2012  Introduction preceding to the closing curtain of World War II, the economic mesh around the area has been limited to only European and the American markets. The gap amidst the two major markets, Atlantic Ocean, was another drawback considering the rudimentary means of colloquy between the two continents. Followed by the shoemakers last of WWII, 1930s, the world suffered the Great Depression where decline of world thriftiness struck the advanced nations. Despite the downswing in the economy, the ground was reintegrated since the 1940s. With the major comeback of key players, the film for uniformed accounting standards was brought up. While the concept was not more or little new for the participants in the market, the nations struggled in order to gain federal agency over the standards. In the 1950s the convergence of accounting standards was in desperate train than ever.

Following with the economic integration, mass international not bad(p) flow was vital in the metropolitan cities, such as London and New York. The eighth International Congress of Accountants held by American Institutes of Certified Public Accountants (AICPA) in 1962 emphasized the harmonisation of accounting standards. In 1971, International Accounting Standard commission (IASC) was est ablished in London in chemical reception ! to demand for apparent harmonization. The committee was composed of Australia, Canada, the joined Kingdom, the united States and others, Japan as the only Asian nation, totaling up as 9 states. With the growing influences, 104 nations joined the committee as of 2001, its salmagundi to International Accounting Standard Board (IASB). The precedent of IASC was the IASB which was to support...If you film to get a full essay, order it on our website: OrderCustomPaper.com

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