The SEC has lifted its requirement that foreign companies, which have used IFRS as the basis for
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The SEC has lifted its requirement that foreign companies, which have used IFRS as the basis for preparing their financial statements, must reconcile their financial statements using U.S. GAAP in order to be eligible to list their shares on U.S. stock exchanges.
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Discuss the possible reasons for this relaxation of rules
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
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Related Book For
International Accounting
ISBN: 978-1260466539
5th edition
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
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