Pros and cons of implementing ifrs in us

Reference no: EM1344819

As the manager, you feel that, once again, the new hires need to develop an understanding of what is happening in the international corporate accounting climate. Many countries have already made the change to IFRS. The United States is moving in that direction. It will be important for them to have a foundation to build on with regard to their future development of expertise in the area of moving or translating U.S. GAAP to IFRS.

Make a list of 5-10 pros and 5-10 cons of implementing IFRS in the United States.

With the United States likely moving to IFRS, SLL sees an opportunity to expand their client services. SLL is considering offering a corporate training program. SLL would bring in its experts to train any company required to switch to IFRS. Part of this training would involve SLL IFRS experts working on the revamp from U.S. GAAP to IFRS. As any good employee would want to advance, the new hires see this possibility as a great way to enhance their skills as well as increase their knowledge of IFRS and the client base.

Prepare a proposal for what consulting services SLL should offer and to whom, inlcuding current auditing clients, other clients, or both.

Reference no: EM1344819

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