2008, Volume 11, Issue 4
U.S. Could Adopt International Financial Reporting Standards in 2014
Two authors demonstrate varying ways in which IFRS adoption could impact business.On August 27, 2008, the Securities and Exchange Commission (SEC) proposed a roadmap toward adopting the International Finance Reporting Standards (IFRS), which represent a marked departure from the current U.S. Generally Accepted Accounting Principles.
What Will The IFRS Mean to Businesses and Investors?
Critics point to weaknesses in the international standards; for example, they do not provide detailed enough guidance to companies, they may allow managers more potential to manipulate earnings, and they may increase costs and create confusion for businesses. Read more...
All IFRS-Compliant Statements Are Not Equal
This article considers the global position on IFRS convergence and the caution that should be adopted in relying on foreign issuers' financial statements. It also considers the domestic issuers' position and the changes to standard setting that can be anticipated over the next few years. Read more...
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