SlideShare a Scribd company logo
1 of 1
Download to read offline
Should the US conform to international standards?
Solution
Yes, US should conform to International Standards.
The International Accounting Standards Board (IASB) has achieved “almost” worldwide
acceptance and adoption of its precious and hard-delivered (that is, more than 30 years in the
making) “baby”—International Financial Reporting Standards (IFRS), a comprehensive set of
financial reporting standards. However, that “almost” is a very significant one: the US, the
largest capital market in the world, is still reluctant to fully incorporate IFRS into its financial
reporting system, despite the recognition of IFRS on all continents during the last ten years. So
US should conform to International Standards

More Related Content

More from fathimafancyjeweller

True or false Income statement profit and loss statement shows com.pdf
True or false Income statement profit and loss statement shows com.pdfTrue or false Income statement profit and loss statement shows com.pdf
True or false Income statement profit and loss statement shows com.pdf
fathimafancyjeweller
 
Research and describe a tool that can be used to test for web server.pdf
Research and describe a tool that can be used to test for web server.pdfResearch and describe a tool that can be used to test for web server.pdf
Research and describe a tool that can be used to test for web server.pdf
fathimafancyjeweller
 
Question 11 of 24 In E. coli, three structural Deand enzymes A. D, an.pdf
Question 11 of 24 In E. coli, three structural Deand enzymes A. D, an.pdfQuestion 11 of 24 In E. coli, three structural Deand enzymes A. D, an.pdf
Question 11 of 24 In E. coli, three structural Deand enzymes A. D, an.pdf
fathimafancyjeweller
 
Prove that a group of order 255 is a cyclic.SolutionLet G be a .pdf
Prove that a group of order 255 is a cyclic.SolutionLet G be a .pdfProve that a group of order 255 is a cyclic.SolutionLet G be a .pdf
Prove that a group of order 255 is a cyclic.SolutionLet G be a .pdf
fathimafancyjeweller
 
Choose one field such as academia, health, consulting, business, man.pdf
Choose one field such as academia, health, consulting, business, man.pdfChoose one field such as academia, health, consulting, business, man.pdf
Choose one field such as academia, health, consulting, business, man.pdf
fathimafancyjeweller
 
Please show your input and output screenshot of matlab. Show all wor.pdf
Please show your input and output screenshot of matlab. Show all wor.pdfPlease show your input and output screenshot of matlab. Show all wor.pdf
Please show your input and output screenshot of matlab. Show all wor.pdf
fathimafancyjeweller
 
mainpublic class AssignmentThree {    public static void ma.pdf
mainpublic class AssignmentThree {    public static void ma.pdfmainpublic class AssignmentThree {    public static void ma.pdf
mainpublic class AssignmentThree {    public static void ma.pdf
fathimafancyjeweller
 
List and discuss three major social changes to the global community .pdf
List and discuss three major social changes to the global community .pdfList and discuss three major social changes to the global community .pdf
List and discuss three major social changes to the global community .pdf
fathimafancyjeweller
 

More from fathimafancyjeweller (20)

True or false Income statement profit and loss statement shows com.pdf
True or false Income statement profit and loss statement shows com.pdfTrue or false Income statement profit and loss statement shows com.pdf
True or false Income statement profit and loss statement shows com.pdf
 
Thomas Rinks and Joseph Shields developed Psycho Chihuahua, a carica.pdf
Thomas Rinks and Joseph Shields developed Psycho Chihuahua, a carica.pdfThomas Rinks and Joseph Shields developed Psycho Chihuahua, a carica.pdf
Thomas Rinks and Joseph Shields developed Psycho Chihuahua, a carica.pdf
 
The government uses part of payroll taxes to pay for Social Security..pdf
The government uses part of payroll taxes to pay for Social Security..pdfThe government uses part of payroll taxes to pay for Social Security..pdf
The government uses part of payroll taxes to pay for Social Security..pdf
 
The financial statements are prepared from the unadjusted trial balan.pdf
The financial statements are prepared from the unadjusted trial balan.pdfThe financial statements are prepared from the unadjusted trial balan.pdf
The financial statements are prepared from the unadjusted trial balan.pdf
 
Research and describe a tool that can be used to test for web server.pdf
Research and describe a tool that can be used to test for web server.pdfResearch and describe a tool that can be used to test for web server.pdf
Research and describe a tool that can be used to test for web server.pdf
 
Question 11 of 24 In E. coli, three structural Deand enzymes A. D, an.pdf
Question 11 of 24 In E. coli, three structural Deand enzymes A. D, an.pdfQuestion 11 of 24 In E. coli, three structural Deand enzymes A. D, an.pdf
Question 11 of 24 In E. coli, three structural Deand enzymes A. D, an.pdf
 
Question 1. Dscribe the change you observed when you added 1 mL of 0.pdf
Question 1. Dscribe the change you observed when you added 1 mL of 0.pdfQuestion 1. Dscribe the change you observed when you added 1 mL of 0.pdf
Question 1. Dscribe the change you observed when you added 1 mL of 0.pdf
 
Prove that a group of order 255 is a cyclic.SolutionLet G be a .pdf
Prove that a group of order 255 is a cyclic.SolutionLet G be a .pdfProve that a group of order 255 is a cyclic.SolutionLet G be a .pdf
Prove that a group of order 255 is a cyclic.SolutionLet G be a .pdf
 
Choose one field such as academia, health, consulting, business, man.pdf
Choose one field such as academia, health, consulting, business, man.pdfChoose one field such as academia, health, consulting, business, man.pdf
Choose one field such as academia, health, consulting, business, man.pdf
 
An intercalating agent 1. Inserts between base pairs of the two str.pdf
An intercalating agent 1. Inserts between base pairs of the two str.pdfAn intercalating agent 1. Inserts between base pairs of the two str.pdf
An intercalating agent 1. Inserts between base pairs of the two str.pdf
 
a trait is considered discrete when 1-The traits are intermediat.pdf
a trait is considered discrete when 1-The traits are intermediat.pdfa trait is considered discrete when 1-The traits are intermediat.pdf
a trait is considered discrete when 1-The traits are intermediat.pdf
 
Please show your input and output screenshot of matlab. Show all wor.pdf
Please show your input and output screenshot of matlab. Show all wor.pdfPlease show your input and output screenshot of matlab. Show all wor.pdf
Please show your input and output screenshot of matlab. Show all wor.pdf
 
8 Problem The true absorbance of a certain sample is n but there i.pdf
8 Problem The true absorbance of a certain sample is n but there i.pdf8 Problem The true absorbance of a certain sample is n but there i.pdf
8 Problem The true absorbance of a certain sample is n but there i.pdf
 
Please review my code (java)Someone helped me with it but i cannot.pdf
Please review my code (java)Someone helped me with it but i cannot.pdfPlease review my code (java)Someone helped me with it but i cannot.pdf
Please review my code (java)Someone helped me with it but i cannot.pdf
 
7. how can differences between individuals such us as SNPs lead to.pdf
7. how can differences between individuals such us as SNPs lead to.pdf7. how can differences between individuals such us as SNPs lead to.pdf
7. how can differences between individuals such us as SNPs lead to.pdf
 
mainpublic class AssignmentThree {    public static void ma.pdf
mainpublic class AssignmentThree {    public static void ma.pdfmainpublic class AssignmentThree {    public static void ma.pdf
mainpublic class AssignmentThree {    public static void ma.pdf
 
List the six nutritional requirements for growth of all micranes. Bri.pdf
List the six nutritional requirements for growth of all micranes. Bri.pdfList the six nutritional requirements for growth of all micranes. Bri.pdf
List the six nutritional requirements for growth of all micranes. Bri.pdf
 
List and discuss three major social changes to the global community .pdf
List and discuss three major social changes to the global community .pdfList and discuss three major social changes to the global community .pdf
List and discuss three major social changes to the global community .pdf
 
Let V be a finite dimensional vector space over a field F. Let T be l.pdf
Let V be a finite dimensional vector space over a field F. Let T be l.pdfLet V be a finite dimensional vector space over a field F. Let T be l.pdf
Let V be a finite dimensional vector space over a field F. Let T be l.pdf
 
Latin America, Asia (except Japan), and Africa comprise a set of sta.pdf
Latin America, Asia (except Japan), and Africa comprise a set of sta.pdfLatin America, Asia (except Japan), and Africa comprise a set of sta.pdf
Latin America, Asia (except Japan), and Africa comprise a set of sta.pdf
 

Recently uploaded

Salient Features of India constitution especially power and functions
Salient Features of India constitution especially power and functionsSalient Features of India constitution especially power and functions
Salient Features of India constitution especially power and functions
KarakKing
 
The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
heathfieldcps1
 

Recently uploaded (20)

Salient Features of India constitution especially power and functions
Salient Features of India constitution especially power and functionsSalient Features of India constitution especially power and functions
Salient Features of India constitution especially power and functions
 
Application orientated numerical on hev.ppt
Application orientated numerical on hev.pptApplication orientated numerical on hev.ppt
Application orientated numerical on hev.ppt
 
Understanding Accommodations and Modifications
Understanding  Accommodations and ModificationsUnderstanding  Accommodations and Modifications
Understanding Accommodations and Modifications
 
Micro-Scholarship, What it is, How can it help me.pdf
Micro-Scholarship, What it is, How can it help me.pdfMicro-Scholarship, What it is, How can it help me.pdf
Micro-Scholarship, What it is, How can it help me.pdf
 
How to setup Pycharm environment for Odoo 17.pptx
How to setup Pycharm environment for Odoo 17.pptxHow to setup Pycharm environment for Odoo 17.pptx
How to setup Pycharm environment for Odoo 17.pptx
 
ICT role in 21st century education and it's challenges.
ICT role in 21st century education and it's challenges.ICT role in 21st century education and it's challenges.
ICT role in 21st century education and it's challenges.
 
Food safety_Challenges food safety laboratories_.pdf
Food safety_Challenges food safety laboratories_.pdfFood safety_Challenges food safety laboratories_.pdf
Food safety_Challenges food safety laboratories_.pdf
 
Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...
Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...
Beyond_Borders_Understanding_Anime_and_Manga_Fandom_A_Comprehensive_Audience_...
 
ICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptxICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptx
 
The basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptxThe basics of sentences session 3pptx.pptx
The basics of sentences session 3pptx.pptx
 
How to Manage Global Discount in Odoo 17 POS
How to Manage Global Discount in Odoo 17 POSHow to Manage Global Discount in Odoo 17 POS
How to Manage Global Discount in Odoo 17 POS
 
How to Add New Custom Addons Path in Odoo 17
How to Add New Custom Addons Path in Odoo 17How to Add New Custom Addons Path in Odoo 17
How to Add New Custom Addons Path in Odoo 17
 
How to Create and Manage Wizard in Odoo 17
How to Create and Manage Wizard in Odoo 17How to Create and Manage Wizard in Odoo 17
How to Create and Manage Wizard in Odoo 17
 
Towards a code of practice for AI in AT.pptx
Towards a code of practice for AI in AT.pptxTowards a code of practice for AI in AT.pptx
Towards a code of practice for AI in AT.pptx
 
Sociology 101 Demonstration of Learning Exhibit
Sociology 101 Demonstration of Learning ExhibitSociology 101 Demonstration of Learning Exhibit
Sociology 101 Demonstration of Learning Exhibit
 
How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17
 
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptxHMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
 
Python Notes for mca i year students osmania university.docx
Python Notes for mca i year students osmania university.docxPython Notes for mca i year students osmania university.docx
Python Notes for mca i year students osmania university.docx
 
Interdisciplinary_Insights_Data_Collection_Methods.pptx
Interdisciplinary_Insights_Data_Collection_Methods.pptxInterdisciplinary_Insights_Data_Collection_Methods.pptx
Interdisciplinary_Insights_Data_Collection_Methods.pptx
 
On National Teacher Day, meet the 2024-25 Kenan Fellows
On National Teacher Day, meet the 2024-25 Kenan FellowsOn National Teacher Day, meet the 2024-25 Kenan Fellows
On National Teacher Day, meet the 2024-25 Kenan Fellows
 

Should the US conform to international standardsSolutionYes, .pdf

  • 1. Should the US conform to international standards? Solution Yes, US should conform to International Standards. The International Accounting Standards Board (IASB) has achieved “almost” worldwide acceptance and adoption of its precious and hard-delivered (that is, more than 30 years in the making) “baby”—International Financial Reporting Standards (IFRS), a comprehensive set of financial reporting standards. However, that “almost” is a very significant one: the US, the largest capital market in the world, is still reluctant to fully incorporate IFRS into its financial reporting system, despite the recognition of IFRS on all continents during the last ten years. So US should conform to International Standards