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Public Accounting, International Standards, And You: A Closer Look On The Impact Of Ifrs And Gaap Convergence, Daniella Lomo
Public Accounting, International Standards, And You: A Closer Look On The Impact Of Ifrs And Gaap Convergence, Daniella Lomo
Honors Scholar Theses
The convergence of US GAAP and IFRS has been significant for the US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) over the decade. Due to major differences such as with the consolidation model and the special entities (i.e. Research and Development), there are concerns of how the convergence will affect the accounting practice. The US GAAP is known to have more industry-based details than the IFRS, and so it is essential to know what kind of issues lie from industry to industry. Here, our focus is within the life sciences. More specifically, this paper examines …