GAAP May Look Very Different When We Move to IFRS
2/01/2011
The globalization of capital markets and the need for enhanced comparability have been primary drivers toward the adoption of a single set of high-quality, globally accepted accounting standards, and today the buzz has moved beyond "adoption" to "convergence." 2011 is expected to bring forth extensive changes in U.S. GAAP that will mitigate the differences from IFRS in the way companies account for revenue and leases.
“GAAP May Look Very Different When We Move to IFRS” focuses on such issues as:
- The SEC’s request for investor and issuer comments regarding IFRS;
- “Work Plan” progress; and
- The impact of the joint exposure draft on accounting by lessees and lessors.
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