期刊名称：International Business & Economics Research Journal
印刷版ISSN：1535-0754
电子版ISSN：2157-9393
出版年度：2007
卷号：6
期号：12
语种：English
出版社：The Clute Institute for Academic Research
摘要：In this paper we will discuss the underlying differences that currently exist between IFRS and US GAAP. Our paper is presented with the belief that convergence is within reach at this point, and no longer an unfeasible event. The systematic rules-based approach and the conceptual principles-based approach are important models for this paper, and we refer to them when discussing the differences and developing our beliefs. The differences that we have chosen to discuss are ones, we feel, that could lead to comparability complications once IFRS is acceptable among US firms and International firms with US subsidiaries. Areas of concern involve items regarding financial statement presentation, revenue recognition, expense recognition, assets, and liabilities. Although there are a great deal of similarities between the US GAAP and IFRS reporting requirements, the specific items presented within this paper need to be addressed before commonly accepted accounting standards are used among encompassing countries.
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