Discussion:
Perform an internet search for related information about International Financial Reporting Standards {IFRS}
1. Create an initial posting that includes what you believe to be the 'crux' of IFRS.
2. What are your thoughts regarding the Reporting Standards to be instituted (e.g. is it necessary? Is it a good idea? Etc.)
3. Describe two differences between GAAP and IFRS.
4. Is IFRS likely to be adopted in the U.S. in the near future?
Please use this book as a reference: Kemp, R., & Waybright, J. (2017). Financial Accounting (4th ed.). Boston: Pearson Education Inc.