DEWAN PENYUSUN STANDAR
                                        Dewan 
                                      Penyusun 
                                       Standar
                    IASB (International        FASB (financial acc 
                   Acc Standard Board)          standard board)
                           IFRS
                       (International               US GAAP
                    Financial Reporting 
                         Standard)
  MENGAPA PERLU  KONVERGENSI?
    HARMONISASI ADAPTASI   KONVERGENSI  ADOPSI
                      WHAT IS THE HISTORY OF IFRS?
                           ►In 2000, the initial 14 members are appointed to the IASB.
    Proposal               ►In 2002, the IASB begins promulgating standards as IFRS from IAS.  The 
    to create                 SIC becomes the IFRIC.  The European Union endorses IFRS for 2005 
       an                     adoption.
    accounta      The 
       nts’      IASC      ►In 2002, the Norwalk Agreement is executed between the IASB and FASB.
    internatio  expands    ►In 2005, the SEC published a roadmap (Roadmap) for elimination of a US 
    nal study      .          GAAP reconciliation for FPIs.
      group                ►In 2006, the FASB and IASB published a Memorandum of Understanding, 
                              to set forth priorities in their joint work program.
    1960s1970s 1980s1990s                                       2000s
                         ►In 1994, the IASC Advisory       ►In 2007, the SEC eliminated the US 
                           Council is formed to provide      GAAP reconciliation for FPIs.
                           oversight of IASC.              ►In 2008, the SEC published a proposed 
    ►The IASC is         ►In 1997, the Standards             Roadmap anticipating the mandatory 
       formed in 1973.     Interpretations Committee (SIC)   adoption of IFRS in the US.
    ►The IASC              is formed                       ►In 2009, the FASB and IASB reaffirmed 
       begins            ►In 1999, the IASC is               their commitment to the MOU.
       promulgating        restructured to form a new 
       International                                       ►In 2010, the SEC established a Work 
                           board:  the IASB.                 Plan for its 2011 IFRS adoption 
       Accounting 
                         ►
      For more details regarding thFeA hSistBo agrry oeesf IFR tSo , sewore kth eon  apa pejoindntix  of the Erndecst i&s iYon.oung publication, US GAAP vs. IFRS: 
       Standards 
      the basics.          earnings-per-share project.
       (IAS).
              IFRS IMPLEMENTATION AROUND THE 
                                           WORLD (2005)
                  IFRS or fixed date for implementation             U.S. GAAP and/or convergence intended
                  Convergence plans                                 No/unknown convergence plans
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