The Convergence of the IFRS and U.S. GAAP to a Global Accounting Standard
Author: Paul Fouche Raath
Publisher:
Published: 2011
Total Pages: 66
ISBN-13:
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Convergence with Accounting Standards
Author: Gaberella Green
Publisher: GRIN Verlag
Published: 2014-05-05
Total Pages: 24
ISBN-13: 3656649375
DOWNLOAD EBOOKProject Report from the year 2012 in the subject Business economics - Accounting and Taxes, grade: 100, Argosy University, course: Contemporary Accounting Theory (B7630), language: English, abstract: The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) set out to complete their ambitious goal of convergence before the year of 2015. The author provides an outline of these efforts, emphasizing the importance and ramifications of International Accounting Standards (IAS) as a means to globally improve quality and clarity of financial reporting across financial sectors. An extensive review of pertinent literature is given, visualizing the two-pronged approach of converging global accounting standards while continuing to improve the US Generally Accepted Accounting Principles (US GAAP). As no significant agreement has been implemented since 2008, the main areas of interest to this date remain income tax, revenue recognition, leases, and financial instruments. The present work puts in perspective the roadmap by the Securities and Exchange Commission (SEC), whilst assigning pivotal roles in the harmonization process to Certified Public Accountants (CPAs) and Chief Financial Officers (CFOs). The author offers a conceptual framework and strategies for the successful completion of the convergence project, adding special emphasis on business mergers and taking a strong position on the active involvement of major players and stakeholders.
IFRS and US GAAP
Author: Steven E. Shamrock
Publisher: John Wiley & Sons
Published: 2012-03-08
Total Pages: 230
ISBN-13: 1118239067
DOWNLOAD EBOOKA practical comparison of—and expert guidance on—IFRS and GAAP written by a practicing controller International Financial Reporting Standards (IFRS) are used in over 120 countries. US companies will inevitably encounter IFRS when evaluating the financial health of suppliers and customers. IFRS and US GAAP: A Comprehensive Comparison provides instruction in accounting under IFRS within the context of US accounting standards. Practical and easy-to-use, this book includes a case study of a first time IFRS adoption, emphasizing the much greater degree of professional judgment that is needed for IFRS. Provides a heavy emphasis on practical examples Includes an online companion website with downloadable spreadsheets and templates Reflects current financial reporting trends Addresses accounting requirements of which today's auditors, accountants and preparers of financial reports need to be aware Clarifying IFRS, its impact on US companies, and where to start in understanding it, IFRS and US GAAP prepares US accountants to be knowledgeable with day to day financial accounting issues using IFRS's substantial similarity with US GAAP as a context.
International Accounting Standards
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment
Publisher:
Published: 2010
Total Pages: 168
ISBN-13:
DOWNLOAD EBOOKAn Executive's Guide for Moving from US GAAP to IFRS
Author: Peter Walton
Publisher: Business Expert Press
Published: 2009-08-01
Total Pages: 141
ISBN-13: 1606490249
DOWNLOAD EBOOKThis book will explain the complex inter-relationships between the International Accounting Standards Board (the creator of IFRS), the Financial Accounting Standards Board (FASB) and the Canadian Accounting Standards Board (AcSB), their work programme and their plans for the future.
Convergence Guidebook for Corporate Financial Reporting
Author: Bruce Pounder
Publisher: Wiley
Published: 2009-02-23
Total Pages: 240
ISBN-13: 0470464143
DOWNLOAD EBOOKAs a result of the global convergence of financial reporting standards, U.S. GAAP is changing profoundly. U.S. GAAP is also being abandoned by many public and private companies, and will eventually be replaced by a higher-quality set of global standards. The Convergence Guidebook for Corporate Financial Reporting provides the timely, practical guidance that CFOs, controllers, and other financial managers need in order to prepare for the impact of Convergence on their companies, departments, and careers. Guidebook readers will also learn why they must begin preparing for "the next big challenge in corporate financial reporting" now.
Convergence of IFRS and US GAAP
Author: Malieka Farah Deeba Malik
Publisher: LAP Lambert Academic Publishing
Published: 2011-01
Total Pages: 72
ISBN-13: 9783843388603
DOWNLOAD EBOOKThe main idea behind this paper is to highlight the background and current movements of International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) toward convergence of International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (GAAP). Subsequent to introductory chapter the second chapter discusses the historical perspectives describing the various events that shaped the IASB and FASB current efforts towards convergence of IFRS and US GAAP. The third chapter describes the strategies policies and procedures adopted by the IASB/FASB to achieve the goal for international accounting convergence. The focus is on the maintainability of investors' interest and integrity of capital markets that can only be achieved by observing methods required for high quality accounting standards. Fourth chapter identifies the substantive differences and similarities between IFRS and US GAAP and catalogue those differences in which a specific accounting treatment is permissible under one basis of accounting standards but not permissible under the other.
Pick a Number
Author: Roger Hussey
Publisher: Business Expert Press
Published: 2014-09-08
Total Pages: 160
ISBN-13: 1606497316
DOWNLOAD EBOOKFor many years, individual countries created their own rules and regulations for company financial accounting and reporting. As the world became more global, problems began to arise. A company could make a profit for the year if the rules in its own country were applied, but this could turn into a loss if another country’s rules were used. To prevent this confusing and misleading state of affairs, standards were issued by the International Accounting Standards Board (IASB). Since 2002, the standard setter in the United States, the Financial Accounting Standards Board (FASB), has been actively engaged with the IASB in attempting to converge U.S. regulations with international accounting standards. This book describes: • The process for setting accounting regulations in the United States • Attempts to establish international standards and the barriers confronted • U.S. involvement in international activities through a process known as convergence • Differences that have halted convergence and the U.S. strategy • Frauds and questionable activities and describes the FASB’s efforts to ensure that financial statements do not mislead their users
Wiley International Trends in Financial Reporting under IFRS
Author: Abbas A. Mirza
Publisher: John Wiley & Sons
Published: 2012-10-05
Total Pages: 1001
ISBN-13: 1118233824
DOWNLOAD EBOOKWiley International Financial Reporting Trends provides copious examples of footnote disclosures and financial statement formats, carefully culled from the world's leading international companies ("Global 500") that are already compliant with IFRS and report under IFRS standards promulgated by the International Accounting Standards Board, the IASB. Arranged topically, this book is a quick source of reference to find answers to issues of interest to financial statement preparers. It provides hundreds of illustrations taken from financial statements prepared under IFRS by global conglomerates thereby helping preparers and users of financial statements to expeditiously obtain examples of footnote disclosures and financial statements presented under these Standards which are popularly referred to as "principles-based" standards (as opposed to "rules-based" standards). Additionally, Wiley International Financial Reporting Trends contains comparisons of IFRS to US GAAP, Indian GAAP, and Chinese GAAP, making it a truly global reference resource.
Achieving Global Convergence of Financial Reporting Standards
Author: Christopher Patel
Publisher: Emerald Group Publishing
Published: 2011-12-15
Total Pages: 177
ISBN-13: 1780524420
DOWNLOAD EBOOKThis research monograph examines whether International Financial Reporting Standards (IFRS) are interpreted and applied in a consistent manner within and across countries, and questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting.
