TITLE

Achieving a Single Global Standard

AUTHOR(S)
Gannon, D. J.
PUB. DATE
August 2010
SOURCE
CPA Journal;Aug2010, Vol. 80 Issue 8, p11
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article focuses on the movement toward a single global standards called the International Financial Reporting Standards which, according to the author, is affecting how standards of accounting and financial reporting are developed, written and applied. It notes that the importance of having international standards, and the need to avoid differences in standards are stressed by the Group of Twenty (G-20). Also cited is a statement issued by the U.S. Securities and Exchange Commission (SEC) supporting convergence and global accounting standards.
ACCESSION #
53018976

 

Related Articles

  • FINANCIAL REPORTING VIA XBRL: IS MANDATE ON THE HORIZON? Heffes, Ellen M. // Financial Executive;Jul/Aug2008, Vol. 24 Issue 6, p14 

    The article discusses a proposal by the U.S. Securities and Exchange Commission (SEC) regarding eXtensible Business Reporting Language (XBRL). If enacted, the proposal would set deadlines for mandatory use of XBRL for corporate SEC filings. A committee representing Financial Executives...

  • SEC Defers IFRS Decision Until 2011. Morgan, John // Money Management Executive;3/1/2010, Vol. 18 Issue 9, p1 

    The article reports on the support and approval set by the U.S. Securities and Exchange Commission (SEC) for the convergence of International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (GAAP). The act of converging seeks to nail down the differences...

  • Financial & Accounting Compliance. Azria, Seth M. // Financial & Accounting Compliance -- Research Starters Business;4/1/2018, p1 

    Accurate financial information is critical for decision making within the business world and governments alike. The absence of honest and accurate financial reporting to support sound financial decisions can cause economic calamities, as evidenced by the Great Depression and the business...

  • Getting a Head Start: Preparing for the Switch to an International Accounting Standard. Barron, Jacob // Business Credit;Jan2009, Vol. 111 Issue 1, p16 

    The article discusses considerations concerning the convergence of the U.S. generally accepted accounting standards (GAAP) and International Financial Accounting Standards (IFRS) into a global accounting standard. It describes the trends on the landscape of financial reporting standards and the...

  • Tax Trends. Cummings, Rocky // Journal of State Taxation;Jan/Feb2009, Vol. 27 Issue 2, p11 

    The article discusses the impacts of the tax reporting and transitioning shift from the U.S. Generally Accepted Accounting Principles (GAAP) to the International Financial Reporting Standards (IFRS). In November 2008, the proposed "Roadmap" for the transition from U.S. GAAP to IFRS was released...

  • Twenty Questions on International Financial Reporting Standards. Tribunella, Heidi // CPA Journal;Mar2009, Vol. 79 Issue 3, p32 

    The article offers information on the adoption of the International Financial Reporting Standards (IFRS) in the U.S. The Securities and Exchange Commission (SEC) has issued a proposal for public comment on August 27, 2008 that could compel mandatory adoption of IFRS effective 2014. It explains...

  • IFRS For U.S. Companies. Persons, Obeau // Journal of Applied Business Research;Jul/Aug2009, Vol. 25 Issue 4, p23 

    Growing acceptance of the International Financial Reporting Standards (IFRS) worldwide and recent actions of the Securities Exchange Commission (SEC) indicate that IFRS could soon become a body of accounting principles generally accepted in the United States of America (US.). It is, therefore,...

  • IFRS Would Escalate Ethical Challenges for Accountants. Verschoor, Curtis C. // Strategic Finance;Jul2010, Vol. 92 Issue 1, p13 

    The article discusses accounting principles and standards from an ethical perspective. The topics include the U.S. Generally Accepted Accounting Principles (GAAP), the International Financial Reporting Standards (IFRS), and the U.S. Security and Exchange Commission's proposal for the total...

  • Enthusiasm for IFRS Roadmap Now Fading Fast. Aguilar, Melissa Klein // Compliance Week;May2009, Vol. 6 Issue 64, p14 

    The article reports on the sudden loss of enthusiasm in adopting international accounting standards in the U.S. It notes that public comments have been rolling into the Securities and Exchange Commission at a brisk pace since the unveiling of the proposed plan in adopting International Financial...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics