ACCT 601 Week 2 Written Assignment; IFRS Updates

ACCT 601 Accounting Capstone  (DeVry Keller - April 2016)

IFRS had been improved to harmonize accounting standards across the European Union, but soon this concept will stabilize the accounting standards for the entire globe.  It is debatable as to whether harmonization happened.  IFRS has been openingly criticized by the United States as they continue to use their own accounting standards, U.S. GAPP.  It is believed that the U.S. wouldn’t consider IFRS unless the U.S. helps in the convergence process....................................