Tag Archives: GAAP vs. IFRS

SEC Staff IFRS Paper Out

State Board Report August 2012 The Final Staff Report on "Work Plan for the Consideration of Incorporating International Financial Reporting Standards into the Financial Reporting System for U.S. Issuers" from the Office of the Chief Accountant of the U.S. Securities and Exchange Commission was released on July 13, 2012 and it does not contain a…

SEC Continues to Study IFRS

State Board Report December 2011 The Securities and Exchange Commission staff will take “a few additional months” to finish its study on International Financial Reporting Standards, SEC Chief Accountant James Kroeker told an AICPA conference on December 5. However, the staff did release two papers in mid-November, “A Comparison of U.S. GAAP and IFRS” and…

Costello Decries IFRS Process

State Board Report October 2009 NASBA is not opposed to global standards, but to the process through which they have been developed and presented, NASBA President David A. Costello explained recently to representatives of the Financial Accounting Foundation. He described five concerns about the International Financial Reporting Standards (IFRS): 1‐ The International Accounting Standards Board,…