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For many years the International Accounting Standards Board (IASB) has been working to develop a set of accounting standards which can be used to bring about uniformity in financial reporting around the world. Uniform accounting will reduce the costs of preparing financial statements for multinational companies and facilitate the jobs of investment analysts, investors, and others in assessing business results. Written by two well-known international experts on the subject who have hands-on experience in applying these standards, this book is an indespensible guide to IFRS compliance.