Resistance to changes in financial reporting standards
By: by Edel Lemus
Publisher: Cambridge Scholars Publishing
Published: 2016
Place of publication: Newcastle upon Tyne
Language: eng
Number of pages: 128
ISBN-13: 9781443897280
Subjects: International business enterprises; Accounting; Standards; Financial statements; Law and legislation
Description: This book investigates current resistance to the ongoing change from US Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS). 138 countries have, thus far, adopted IFRS as a singular accounting language, while the Securities and Exchange Commission (SEC), the Financial Accounting Standard Board (FASB), and the International Accounting Standard Board (IASB) have determined that IFRS should be adopted optionally in the United States by 2016. The book shows that IFRS should act as a singular accounting language, which will promote high transparency and a better economic position in the world financial market.
Notes: Includes bibliographical references (pages 97-107).
Table of contents: title: What are the similarities and differences between the financial reporting standards under GAAP versus IRFS?; title: Critical aspects between EMH and IFRS; title: Is IFRS mandatory or optional in the U.S. market? Why?; title: IFRS global adoption.