publication . Article . 2011

US ADOPTION OF IFRS MAY HELP TO JUMPSTART THE US ECONOMY

Anne B. Fosbre; Ellen M. Kraft,; Paul B. Fosbre,;
Open Access
  • Published: 01 Jan 2011 Journal: Accounting & Taxation, volume 3, issue 2, pages 109-118
Abstract
The United States prompt adoption of International Financial Reporting Standards (IFRS) may help to jumpstart the US economy. Investors would be able to make comparisons and evaluate investment opportunities worldwide. US Multinational companies would be able to cut costs. In preparation of financial statements using IFRS the results presented usually portray higher figures. This would help to present more favorable valuations and help to promote growth with improved financial reporting. The result will be more job opportunities, a reduction in uncertainties, and may help to jumpstart the US economy. This paper examines existing differences in required reporting...
Subjects
free text keywords: IFRS, US economy, FIFO, LIFO, jel:M41, jel:M48
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