A Study of Accounting Standard-Setting Processes on Business Combinations in the United States

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This research aimed to clarify the reasons why the U. S. accounting standards setter, FASB set the standard which is divergent from the one set by the international standard setter, IASB, although both boards agreed to cooperate in developing the standards. This research made clear that the FASB recognized to be in the most dangerous circumstance of its survival due to the domestic accounting distrust and the rising presence of the IASB ; and then the FASB and its parent organization, FAF possibly adopted the strategy that the board consists of members who share the view of accounting, sets the standards promptly and progressively comparative to the IASB in proceeding with big projects and enhances its value in setting global accounting standards.