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Market Value Vs Historical Cost Valuations Of Fixed Assets In The Context Of International Convergence, Alexander Y. Varga
Market Value Vs Historical Cost Valuations Of Fixed Assets In The Context Of International Convergence, Alexander Y. Varga
CMC Senior Theses
The purpose of this paper is to discuss the differences between accounting for fixed assets under IFRS and U.S. GAAP. Primarily the discussion will be driven by the question: which standard should the FASB lobby for in its joint effort with the IASB to converge U.S. GAAP with IFRS? The paper will start by establishing that financial reporting, as it has evolved in the United States, was developed primarily to assist in the accountability relationships between management and both credit and equity investors. From there the paper will look at which standard is better suited to fulfill this goal and …
Ifrs: A Detailed Look At Progress In The United States, Johnny Ko
Ifrs: A Detailed Look At Progress In The United States, Johnny Ko
CMC Senior Theses
This paper will examine the history of international accounting that eventually led to the adoption of IFRS in the European Union. It will have an in depth analysis of IFRS and what it may mean for the United States should there be an adoption or a convergence. It will also comment on what needs to be considered in the convergence or adoption process.