Question: From the Wall Street Journal Online article dated July 6, 2011 by Michael Rapoport entitled U.S. Firms Clash Over Accounting Rules. answer the following questions.

From the Wall Street Journal Onlinearticle dated July 6, 2011 by Michael Rapoport entitled "U.S. Firms Clash Over Accounting Rules." answer the following questions. The information obtained by answering the questions will be used to draft write up on the article.

(a) What are the reasons larger companies and rule makers are in favor of the switch to IFRS?

(b) Why are the smaller companies opposing the switch?

(c) What criticism of IFRS is raised with regard to regulated companies?

(d) Explain what is meant by "condorsement."

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