Accounting Profession Is Ready For International Financial Reporting Standards: Financial Statements Comparable Enough

Abstract

Comparative analysis of three matched pairs of corporations revealed that there are more similarities than differences where one used IFRS and the other used US GAAP. "mso-spacerun: yes;"Since US GAAP focuses on usefulness of information rather than uniform reporting, the use of IFRS is just another variation on a theme that has existed for decades. The Big 4 accounting firms provide guidance and training for practitioners, professors and students that ease the road to understanding.