 |
 |
|
|
|
||||||||||
|
||||||||||
|
|
|||||||||
|
||||||||||
The SEC wants some of the largest U.S. companies to adopt international rules early, but limitations and uncertainty in its plan could diminish those hopes.
Sarah Johnson, CFO.com | US
November 17, 2008
I agree that early adoption of IFRS involves risk and added cost. For example, if Arthur Leavitt were to return to head up the SEC, all bets might well be off! However, as of 2014 US GAAP should have converged with IFRS though a series of changes to US GAAP, which by 2014 will theoretically be the same as IFRS! And remember, while we are converging or moving to IFRS, IFRS will be converging or evolving towards US GAAP, hopefully in areas like Revenue Recognition. John Anderson, CPA, CISA, CITP
Posted by John Anderson | December 04, 2008 05:13 pm
© CFO Publishing Corporation 2009. All rights reserved.