American-based companies are required to adhere to U.S. GAAP (Generally Accepted Accounting Principles), however, as commerce moves toward a global marketplace other countries have adopted IFRS (International Financial Reporting Standards). As you complete your college degree and enter your career field (or further your current career) it's a guarantee you will be involved with IFRS. REQUIRED: What's the big deal? How will YOU be affected in the next 4 years? When researching your answer, please be sure to include your references in your post.