Verified Document

Convergence Since 2002, The Financial Introduction

1-6 Summary

The accounting convergence project of the FASB and IASB has proceeded slowly, despite a new deadline of 2014 from the SEC. There remain several key issues that are bogging down the conversion process. This dissertation will outline where American public companies stand on this issue. It will attempt to ascertain how much they understand about the convergence process and how prepared they are for full conversion to international financial reporting standards.

Works Cited:

AICPA. (2010). IFRS primer for audit committees. AICPA. In possession of the author.

American Bar Association (2010) Program: International financial reporting standards: Implications of accounting convergence for business lawyers. American Bar Association. Retrieved November 2, 2011 from http://www.americanbar.org/content/dam/aba/publishing/business_law_today/buslaw_blt_content_2010_11_0005.pdf.

Barth, M., Landsman, W., Lang, M. & Williams, C. (2011). Are IFRS-based and U.S. GAAP-based accounting amounts comparable? Stanford University...

78.
Bratton, W. (2011). Heedless globalism: The SEC's roadmap to accounting convergence. University of Cincinnati Law Review. Vol. 79 (2) 470-498.

FASB.org (2011) website, various pages. Retrieved November 2, 2011 from http://www.fasb.org/

Hail, L., Leuz, C. & Wysocki, P. (2009). Global accounting convergence and the potential adoption of IFRS by the United States: An analysis of economic and policy factors. Wharton School Working Paper

Jones, H. (2010). Lehman case "backs" accounting convergence. Reuters. Retrieved November 2, 2011 from http://www.reuters.com/article/2010/04/29/us-regulation-summit-accounting-idUSTRE63S22920100429

PWC. (2007). Convergence of IFRS and U.S. GAAP. Price Waterhouse Coopers Viewpoint. In possession of the author.

Qu, X. & Zhang, G. (2010). Measuring the convergence of national accounting standards with international financial reporting standards: The application of fuzzy clustering analysis. The International Journal of Accounting. Vol. 45 (3) 334-355.

Sources used in this document:
Works Cited:

AICPA. (2010). IFRS primer for audit committees. AICPA. In possession of the author.

American Bar Association (2010) Program: International financial reporting standards: Implications of accounting convergence for business lawyers. American Bar Association. Retrieved November 2, 2011 from http://www.americanbar.org/content/dam/aba/publishing/business_law_today/buslaw_blt_content_2010_11_0005.pdf.

Barth, M., Landsman, W., Lang, M. & Williams, C. (2011). Are IFRS-based and U.S. GAAP-based accounting amounts comparable? Stanford University Working Paper No. 78.

Bratton, W. (2011). Heedless globalism: The SEC's roadmap to accounting convergence. University of Cincinnati Law Review. Vol. 79 (2) 470-498.
FASB.org (2011) website, various pages. Retrieved November 2, 2011 from http://www.fasb.org/
Jones, H. (2010). Lehman case "backs" accounting convergence. Reuters. Retrieved November 2, 2011 from http://www.reuters.com/article/2010/04/29/us-regulation-summit-accounting-idUSTRE63S22920100429
Cite this Document:
Copy Bibliography Citation

Related Documents

IFRS GAAP Convergence
Words: 1031 Length: 3 Document Type: Research Paper

Herz (2013) notes that the end of convergence will essentially bring about an era where IFRS is, for the most part, the de facto standard around the world. However, the process has also compelled the IASB to be more responsive to its constituents. For Australians, involvement in ASAF signals the beginning of the final stages of convergence, where the remaining non-IFRS major economies are brought into the process. Many countries with

Finance and Financial Entrepreneurship. The Basis of
Words: 11684 Length: 34 Document Type: Term Paper

finance and financial entrepreneurship. The basis of the article is on a discussion that was held on this subject among four leading lights of financial entrepreneurship in the United States - Michael Milken, Lewis Ranieri, Richard Sandor and Myron Scholes. These people are famous in their own right and have had a sizeable role in financial entrepreneurship in the U.S. over the last 20 years. We have first discussed

Mexico and Convergence Between Terrorism International Terrorist...
Words: 4243 Length: 15 Document Type: Research Paper

Mexico: Terrorism and Organized Crime The convergence in numerous means of organized criminal activities that include terrorism and drug trafficking is a developing concern in the United States and the entire world. Some professionals in this filed imply that the increasing number of cases of terrorism and organized crime groups are jointly coordinated and the trend is increasingly developing into a worldwide phenomenon (Rollins 2). These occurrences pose a great and

International Financial Reporting Standards IFRS Generally Accepted...
Words: 1759 Length: 5 Document Type: Essay

International Financial Reporting Standards (IFRS) Generally Accepted Accounting Principles (U.S. GAAP) US GAAP is the general accounting principles, standard, and procedures that the U.S. companies follow to prepare their financial statements. GAAP has combination of accepted standards that the companies should follow when recording and reporting their accounting information. For example, GAAP has set up the rules that companies should follow when preparing the financial data such as balance sheet, revenue recognition,

Interventionism From the Perspective of Realism Vs.
Words: 13409 Length: 44 Document Type: Case Study

interventionism from the perspective of realism vs. idealism. Realism is defined in relationship to states' national interests whereas idealism is defined in relation to the UN's Responsibility to Protect doctrine -- a doctrine heavily influenced by Western rhetoric over the past decade. By addressing the question of interventionism from this standpoint, by way of a case study of Libya and Syria, a picture of the realistic implications of "humanitarian

ER Practices in Atlanta
Words: 28237 Length: 5 Document Type: Multiple Chapters

Economic Motivators for Employers on Employment Rates for People With Disabilities in Atlanta Qualitative Research Quantitative Research Definition of Disability Statistics for Individuals with Disabilities Effects Of ADA On Persons With Disabilities Economic Motivators for Employers Hiring People with Disabilities Factors Affecting Economic Motivators for Employers Lack of Information and Knowledge Regarding Economic Motivators Misconception about Individuals with Disabilities Inaccessible Hiring Strategies Conflicts with Existing Programs Lack of Appropriate Planning and Difficulties in implementations Economic Incentive Programs Unemployment Among People with Disabilities Summary Conclusion CHAPTER

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now