Conceptual Framework for Financial Reporting

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Funjarre

Business Finance

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U.S. GAAP vs. IFRS

A current hot topic in accounting is the potential change from U.S. GAAP to IFRS. There is much discussion on the topic and one that is worthy of investigation. Please conduct a thorough research inquiry on IFRS and the proposed changes this will present. Please take a position on whether these changes will be positive, or negative, and provide support as to why you made your choice

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Explanation & Answer

Attached.

Running head: ACCOUNTING STANDARDS

Accounting Standards
Name
Institution
Date

1

ACCOUNTING STANDARDS
There is a potential change in accounting from the United States GAAP to IFRS.
The change will result in positive effects. The adoption of IFRS is meant to address the
economic fluctuations. The standards will be flexible, for instance, with foreign exchange
issues; it will help ensure that o...


Anonymous
Excellent resource! Really helped me get the gist of things.

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