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Full-Text Articles in Accounting
Why Does The U.S. Continue To Use Gaap And Will It Ever Converge To Ifrs?, Hester Lam
Why Does The U.S. Continue To Use Gaap And Will It Ever Converge To Ifrs?, Hester Lam
CMC Senior Theses
The United States has a long history of doing things differently than other countries. Its accounting standards are no different; to date, it continues to use its own Generally Accepted Accounting Principles and have yet to converge to the International Financial Reporting Standards ("IFRS") as set by the International Accounting Standards Board. In 2008, the U.S. Securities and Exchange Commission ("SEC") Chairman Christopher Cox published a press release in which the SEC published for public comment a roadmap towards convergence by 2014. However, in subsequent years, Memorandum of Understandings published by the IASB and the United States' Financial Accounting Standards …
Differences Between Ind As And Ifrs: Can Full Convergence Ever Occur Between The Two?, Shoubhik Pal
Differences Between Ind As And Ifrs: Can Full Convergence Ever Occur Between The Two?, Shoubhik Pal
CMC Senior Theses
Since the turn of the millennium, there have been various attempts by Indian regulators as well as the government to converge the current accounting system in India (tentatively called Indian GAAP) to a system similar to IFRS, considered today to be the prevalent worldwide set of accounting standards. Indian GAAP has had its fair share of criticism, the most telling being that it avoids the principle of substance over form in various topics in its literature. The first announcement of a plan to converge came in July 2007. While suffering various setbacks through delays in recent years, the current roadmap …