International Financial Reporting Standards
- What are international financial reportinng standards(IFRSs)?
- What is the process by which IFRSs are issued?
- What event accelerated the wide-spread adoption of IFRSs?
- Identify two significant differences between IFRSs and US GAAP.
- What are some of the reasons that the SEC is adovcating the move to IFRSs?
- What is the IASB, when was it formed, and why is its structure important?
- Why is each of the following important and how does each relate to the concepts of convergence and adoption?
- Memorandum of Understanding (MOU) between the FASB and the IASB
- The SEC Roadmap
What are "rules-based" vs. "principles-based" standards? What is the current status of IFRS usage in the United States?
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