User Account

All Pages

What are the potential reasons for not adopting IFRS

Assignment Help Financial Accounting
Reference no: EM131794844

Question

Although a number of countries have adopted International Financial Reporting Standards (IFRS), the United States has not yet decided to adopt IFRS into the financial reporting practices. Hail et al. (2010a, 2010b) argue that the adoption of IFRS is unlikely to improve reporting quality, increases transaction costs and potentially enhances comparability for US firms.

Required:

(a) Critically evaluate the above statement.

(b) What are the potential reasons for not adopting IFRS in the US?

(c) Do you think that the US will adopt IFRS in the near future?

Note 1: Word limit for Question 1 is 1,500.

Note 2: Professional marks will be awarded for format, clarity and expression.

Note 3: The presentation of Question 1 should include Introduction, Discussion, Conclusion and List of references.

Reference no: EM131794844

Questions Cloud

Discuss reconciling opening and closing retained earnings : consolidated statement of financial position and a consolidated statement of comprehensive income including a note reconciling opening and closing retained earn
What is the current bond price : What will be the difference, if any, between this bond's clean and dirty prices today - what is the current bond price
Prepare a consolidated statement of financial position : Prepare a consolidated statement of financial position and a consolidated statement of comprehensive income for Andy Ltd
How many of the OID bonds must Cosmic issue : If both bonds are to provide investors with the same effective yield, how many of the OID bonds must Cosmic issue to raise $3,000,000
What are the potential reasons for not adopting IFRS : Critically evaluate the above statement and What are the potential reasons for not adopting IFRS in the US
Write a recursive function to implement selection sort : The recursive simple-selection-sort function in Exercise .Write a recursive function to implement simple selection sort.
What was the amount of the depreciation expense : the company had costs of 52,300 dividends of 1,000 and interest paid of 900 the tax rate was 34%. What was the amount of the depreciation expense
Prepare the june income statement for chi-lite : The following event took place for Chi-Lite Inc. Prepare the June income statement for Chi-Lite. Assume that Chi-Lite uses the perpetual inventory method.
Write a program that reads records containing an employee : Write a program that reads records containing an employee number and an hourly rate for several employees and stores these in a heap.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd