International
accountingInternational
Financial Reporting Standards (IFRS) Quick Facts
concerning International accounting SEC Roadmap for Transition to IFRSsGlobal Accounting
Standards? Not So FastIs IFRS That Different From U.S.
GAAP?Incorporating
International Accounting Standards into Intermediate AccountingTop Ten Reasons Why U.S. Adoption
of IFRS is a Terrible IdeaJames D. Cox, a securities law expert at Duke Law School who returned this week from teaching corporate law in Europe, said the shift to international rules amounted to “outsourcing safety standards.”
“We would not for a
moment
tolerate having American auto safety standards set by China or India,”
he said. “Why should we do it for financial safety standards? There has
to be some accountability.”
Source:
"Accounting Plan Would Allow Use of Foreign Rules," by Stephen
Labaton, New York Times, July 5, 2008