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...
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