Peeling away financial reporting issues one layer at a time

» IFRS/Convergence

“Convergence Flaws” v. Convergence Spin

I recently read the transcripts of two recent speeches on the question of the future of IFRS in the US.  They are as different as two speeches could be on this topic.

As one might [Read More...]

EU and IASB Ratchet Up Pressure on the U.S. to Abandon GAAP

The European Commission sponsored a two-day conference last week entitled "Financial Reporting in a Changing World." I was not invited to speak (J), but if I had been, this is what I would have [Read More...]

Speaking Out Against IFRS Adoption? Welcome to the “Loud Minority”

As I mentioned in a previous post, PCAOB member Charles Niemeier delivered a tour de force critique of U.S. efforts to adopt IFRS, at a recent New York State Society of CPAs (NYSSCPA) educational [Read More...]

The Politics of Accounting Convergence: Who’s Got the Power?

The gap between U.S. GAAP (unintentional pun) and International Financial Reporting Standards is a Grand Canyon.  How could it not be so, when U.S. GAAP takes up about 25,000 pages, while IFRS is a [Read More...]