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Accounting
by leon on August 28, 2008
Finally, the US has moved another step closer to joining the rest of the world with the Securities and Exchange Commission releasing a road map that would have US companies using International Financial Reporting Standards (ifrs) six years from now. Indeed, CFO.com's Sarah Johnson and Marie Leone suggest it might end a lot sooner. Like from next year.
One of the issues that strikes me is whether there are enough skills for the take-up, although six years should give accountants like enough to get their heads around IFRS. A fuller discussion of those issues here.
One thing for sure. No one should accuse the SEC of acting too hastily. Six years is a long time.
Permalink: Closing the GAAP
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