By Christoph Watrin, Christiane Strohm, and Ralf Struffert JANUARY 2006 - Starting in 2005, the public corporations in all 25 European Union nations must comply with International Financial Reporting Standards (IFRS)/International Accounting Standards (IAS). The motivation to converge IFRS/IAS and U.S. Generally Accepted Accounting Principles (GAAP) as part of the ongoing internationalization of accounting is … Continue reading The Joint Business Combinations Project IFRS 3 and the Project’s Impact on Convergence with U.S. GAAP

By Bert J. Zarb SEPTEMBER 2006 - To be useful and timely, financial information must also be reliable, comparable, consistent, and transparent. One way to achieve transparency in financial reporting is to prepare information in accordance with a robust, high-quality set of generally accepted accounting principles. In a global marketplace, a set of financial statements … Continue reading The Quest for Transparency in Financial Reporting Should International Financial Reporting Standards Replace U.S. GAAP?