US Adapts IFRS

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US Adapts IFRS by Mind Map: US Adapts IFRS

1. Intro to Accounting Standards

1.1. U.S's History with GAAP

1.1.1. "Multiple Dimensions of Accounting in the Development of GAAP."

1.2. Creation of the IFRS

1.2.1. "International Financial Reporting Standards (IFRS)."

2. U.S's Decision to Change

2.1. Early Attempts

2.1.1. "IFRS in Three Years Possible ... But Only with a Stable Platform"

2.1.2. "A Perspective on the SEC's Proposal to Accept Financial Statements Prepared in Accordance with International Financial Reporting Standards (IFRS) without Reconciliation to U.S. GAAP."

2.2. Recent Developemets

2.2.1. "IFRS in Three Years Possible ... But Only with a Stable Platform"

2.2.2. "A Perspective on the SEC's Proposal to Accept Financial Statements Prepared in Accordance with International Financial Reporting Standards (IFRS) without Reconciliation to U.S. GAAP."

2.2.3. "Incorporating IFRS into the Accounting Curriculum."

3. GAAP vs. IFRS

3.1. Similarites

3.1.1. "NET INCOME COMPARABILITY BETWEEN EU-IFRS AND US-GAAP BEFORE RELEASE NO. 33-8879: EVIDENCE FROM FIFTY US-LISTED EUROPEAN UNION COMPANIES."

3.1.2. New node

3.2. Differences

3.2.1. "NET INCOME COMPARABILITY BETWEEN EU-IFRS AND US-GAAP BEFORE RELEASE NO. 33-8879: EVIDENCE FROM FIFTY US-LISTED EUROPEAN UNION COMPANIES."

3.2.2. New node

4. Positve Impact

4.1. Short Term

4.1.1. "Accounting Without Borders: Has Its Time Come?"

4.1.2. "IFRS Implications FOR Income Taxes."

4.2. Long Term

4.2.1. "Accounting Without Borders: Has Its Time Come?"

4.2.2. "IFRS Implications FOR Income Taxes."

5. Negative Impact

5.1. Short Term

5.1.1. "Accounting Without Borders: Has Its Time Come?"

5.1.2. "IFRS Implications FOR Income Taxes."

5.2. Long Term

5.2.1. "Accounting Without Borders: Has Its Time Come?"

5.2.2. "IFRS Implications FOR Income Taxes."

6. Conclusion

7. Intro