IFRS: Blessing or Curse For USA

United States of America is going to adopt International Financial Reporting Standards. Major advantages include

  • It would make the financial statements of U.S. companies more comparable to those in other countries.
  • It would help capital from investors and banks flow more smoothly around the world.
  • American filers would be able to use more judgment in preparing financial information.
  • It would provide substantial benefit to some companies and, despite considerable expense, little or none to others.
  • It helps more freely move accounting staff from country to country and business to business.


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