Problem:
Do you think that U.S. GAAP puts American R&D-intensive companies at a disadvantage to their global competitors? Specifically, are the U.S. GAAP rules related to R&D logical compared to IFRS and do you believe that investors can interpret the U.S. GAAP and IFRS R&D information appropriately?
Finally, if you were the Controller (Chief Accounting Officer) for a New Jersey-based biotechnology company, would you prefer to use IFRS or U.S. GAAP for your R&D disclosures? Or does the choice not matter at all?