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IFRS: Jekyll or Hyde?

U.S. adoption of global accounting standards would be intended to create a level global playing field, but within U.S. borders, its benefits would differ dramatically from company to company.

November 20, 2009

The primary benefit of the United States adopting International Financial Reporting Standards, touted by accounting standard-setters on both sides of the Atlantic, is that it would make the financial statements of U.S. companies more comparable to those in other countries. In theory, this would help capital from investors and banks flow more smoothly around the world. Another effect is that American filers would be able to use more judgment in preparing financial information — though whether that is a benefit is hotly debated. Read more...

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