Convergence of U.S. GAAP & IFRS

Option #1:  Convergence of U.S. GAAP & IFRS

There have been numerous discussions on the need to converge U.S. Generally Accepted Accounting Principles (GAAP) accounting standards with International Financial Reporting Standards (IFRS).  Using the CSU-Global Library or other peer-reviewed sources, research this topic and address the following prompts:

1. Describe the pros and cons of convergence between GAAP and IFRS.
2. Provide recommendations on whether you agree or disagree on the proposal.
3. Support answers by stating primary reasons for your conclusion.

Your paper should be two to three pages in length and conform to CSU-Global Guide to Writing and APA Requirements (Links to an external site.). Include at least two scholarly references in addition to the course textbook.  The CSU-Global Library is a good place to find these references.