Discuss the impact of this exposure draft on multinational entities in emerging markets.

Topic 1: Go to the IFRS website at IFRS – Home. Click on the “Issued Statements” and/or “Applying the Standards” tab. Select any recent IFRS exposure draft other than the ones you selected in Weeks 4 and 7. Discuss the impact of this exposure draft on multinational entities in emerging markets. (1 page)
Topic 2: In October 2002, the FASB and the International Accounting Standards Board (IASB) announced the issuance of a memorandum of understanding (“Norwalk Agreement”), marking a significant step toward formalizing their commitment to the convergence of U.S. and international accounting standards. Review this document. Do you think enough progress has been made in the convergence process? Substantiate your answer with relevant examples of the success of/shortcomings of convergence process (1 page)