Monday, August 3, 2009

CPAs knowledge in IFRS and GAAP

The IFRS blog recently asked if your CPA was bilingual. Although the United States has not yet fully committed to adopting IFRS, many other countries throughout the world have begun to take the steps to adopt this new worldwide accounting system. EM sees a new state of accounting in 2012, that where either the US has adopted IFRS or an accounting world where IFRS and GAAP coexist. So, he believes CPAs should begin now learning how to account in both systems. Many accounting classes throughout colleges have already begun to integrate this new system. What do you think? Even though it's not clear if accounting will be in the IFRS system by 2012, should CPAs begin acquainting themselves now? If you are a CPA, what's your stance?

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