International Financial Reporting Standards (IFRS) is a set of international accounting standards stating how particular types of transactions and other events should be reported in financial statements. IFRS is issued by the International Accounting Standards Board. Conversations are still swirling over whether or not the Securities and Exchange Commission (SEC) will adopt IFRS or some variation of the standards, requiring U.S. companies to begin using the international reporting standards rather than the current Generally Accepted Accounting Principles (GAAP). We pulled together some of the most useful posts regarding the debate over IFRS.
C Releases Second Staff Paper on a Possible Incorporation of IFRS into U.S. GAAP: An Analysis of IFRS in Practice
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