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Will a Single Accounting Standard Help? Standard-setters are keen on driving the world toward a single set of rules, but Moody's contends that reporting in IFRS doesn't necessarily help comparability.

Marie Leone, CFO.com | US
November 6, 2008

Incremental Comparability

"In some circumstances, the lack of comparability is blamed on a deficiency in standardization."

IFRS financial statements will NOT be comparable unless adjusted to a standard to account for differing national interest rates, inflation rates, and foreign exchange currency rates.

The other option, for comparability, is a global interest rate, global inflation rate, and global currency. Not to say that is right, but simply to say IFRS is only incremental comparability rather than true 1-for-1 country-to-country financial firm comparability.

Posted by David Newman | Nov 6, 2008 7:41 PM ET