At the Accounting Principles blog, Malcolm McKay recently looked at the differences between US GAAP versus the IFRS systems of accounting. He pointed out that according to Audit Integrity, there are no noticable differences between the two systems. He also states that US GAAP has tools that allow for better reporting. What do you think? Is it important to join the rest of the world and keep books in the same accounting method or look towards US GAAP, which according to reports, allows for better analysis?
An Objective Look at International Financial Reporting Standards (IFRS), the report by Audit Integrity, can be read here.
Thursday, June 25, 2009
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