Final Project
For your Final Project, you will write a 7-10-page paper about the possible implementation of IFRS in the United States. Your paper should include, but not be limited to, the following items:
- Information on the origin and development of global financial reporting including the driving forces behind it.
- The development of IFRS and the standard-setting bodies related to the set of standards.
- A review of the conceptual and technical differences that still exist between IFRS and United States GAAP.
- A discussion of the progress towards harmonization of United States GAAP and IFRS and key issues that still impede transition.
- An evaluation of possible approaches to implementation of IFRS (including adoption, convergence, endorsement, and condorsement) that thoroughly supports your recommendation for the way forward.