TITLE

The Switch from US GAAP to IFRS - Implications for Analysis Involving Inventories

AUTHOR(S)
Jeffers, Agatha E.; Mengyu Wei; Askew, Sidney
PUB. DATE
January 2010
SOURCE
Proceedings of the Northeast Business & Economics Association;2010, p48
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The SEC has proposed the full adoption of International Financial Reporting Standards (IFRS) by U.S. filers by 2014. In this study, an examination is undertaken of the previous assertions of Jeffers & Askew (2010) that the switch from U.S. GAAP to IFRS will produce significantly different financial statement analysis and inventory valuation results. We also examine the assertions made by the International Accounting Standards Board (IASB) that IFRS is superior to U.S. GAAP with regard to IFRS being a more accurate predictor of market risk based accounting measures and expectations as well as the assessment of a company's liquidity, financial stability and strength. Our findings indicate that IFRS will indeed produce different inventory valuation results that may appear to be superior to those provided under GAAP.
ACCESSION #
56100816

 

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