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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- Ding, Yuan & Hope, Ole-Kristian & Jeanjean, Thomas & Stolowy, Herve, 2007.
"Differences between domestic accounting standards and IAS: Measurement, determinants and implications,"
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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.
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