Convergence of US GAAP and IFRS and its potential effects on financial reporting practices in the US.

TOPIC:

Convergence of US GAAP and IFRS and its potential effects on financial reporting practices in the US.

Include comprehensive and detailed description of:

A.) Analysis of the convergence project and its progress

B.) Advantages & disadvantages of convergence for US

C.) Also discuss --> Direct adoption versus convergence in other countries. 

D.) Major sub-projects under the convergence - related progress, advantages, disadvantages & challenges for US.

*Must include relevant references - published articles, research papers, books, book chapters, etc.

*Data tables & graphs (if any) - include in Appendix.

WORD COUNT: 9,000 words.