Some Issues About The Transition From U.S. Generally Accepted Accounting Principles (Gaap) To International Financial Reporting Standards (Ifrs)
The ultimate goal of a move to IFRS International Financial Reporting Standards isthe rigorous application of a single set of global accounting standards, which will produce high-quality, transparent financial information to help investors and other stakeholders in the world'scapital markets make economic decisions based on financial data that is easily and directlycomparable. Many believe this is a necessity for a vital and growing global economy. In this articlethe authors tried to present the issue of convergence between US Generally Accepted AccountingPrinciples (GAAP) and International Financial Reporting Standards (IFRS). Adoption of IFRS(International Financial Reporting Standards) in the US undoubtedly would mark a significantchange for many US companies. It would require a shift to a more principles-based approach,place far greater reliance on management (and auditor) judgment, and spur major changes incompany processes and systems.
Volume (Year): 1 (2009)
Issue (Month): 11 ()
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- Jose Luis Ucieda Blanco & Beatriz Garcia Osma, 2004. "The comparability of international accounting standards and US GAAP: an empirical study of Form 20-F reconciliations," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 1(1), pages 5-36.
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- Ding, Yuan & Hervé, Stolowy & Hope, Ole-Kristian & Jeanjean, Thomas, 2005.
"Differences between domestic accounting standards and IAS: measurement, determinants and implications,"
Les Cahiers de Recherche
826, HEC Paris.
- Yuan Ding & Ole-Kristian Hope & Thomas Jeanjean & Hervé Stolowy, 2005. "Differences between Domestic Accounting Standards and IAS: Measurement, Determinants and Implications," Working Papers hal-00584707, HAL.
- Thomas Jeanjean & Hervé Stolowy & Y. Ding & O. K. Hope, 2007. "Differences between Domestic Accounting Standards and IAS: Measurement, Determinants and Implications," Post-Print halshs-00126772, HAL.
- Chris Patel, 2004. "Some theoretical and methodological suggestions for cross-cultural accounting studies," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 1(1), pages 61-84.
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