IFRS

Posted by: dwipw on: February 20, 2010

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TUGAS RISET AKUNTANSI
Nama Kelompok : Devi (20207293)
Fitriana Dewi (20207477)
Dwi Purita Warni (21207237)
KELAS : 3EB01

INTERNATIONAL FINANCIAL REPORTING STANDARD

The SEC approved rule amendments under which financial statements from foreign private issuers in the United States will be accepted without reconciliation to U.S. GAAP only if they are prepared using International Financial Reporting Standards as issued by the International Accounting Standards Board.

A new accounting system that most of the world is shifting to is not that hard or costly to implement but it does have it is little quirks. That seemed to be the consensus today at a roundtable discussion at the U.S. Securities & Exchange Commission.
The push for a new international accounting system is picking up traction. As the Corner Office reported April 8, moves to accept International Financial Reporting Standards IFRS instead of the GAAP Generally Accepted Accounting Principles could well happen in the U.S., the last GAAP hold out.
CHICAGO — In a national survey of chief financial officers and senior comptrollers conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International, one of the six global accounting, tax and business advisory organizations, 56 percent do not agree with the SEC’s proposal to permit foreign firms.
Here Comes IFRS, a Whole New Accounting System Here Comes the IFRS Like it or not we are in a global economy and if US companies are going to compete overseas and file taxes and disclose financial data they are going to have to use IFRS.
A study by Ernst & Young concludes that the transition to International Financial Reporting Standards IFRS … A study by Ernst & Young concludes that the transition to International Financial Reporting Standards IFRS has been highly successful, even though the new financial statements retain a strong.
http://www.IFRS in America.com
Blog posts 2008-08-05
Peter Galuszka
SUMMARY :
International Financial Reporting Standards (IFRS) instead of the GAAP Generally Accepted Accounting Principles and then according to Ernst n young the international financial reporting standard is really highly successful.
But there is another opinion about a new international financial reporting standard from SEC in Chicago , they said that 56 percent of them is not agree about a new IFRS.
This new international financial reporting standard system is still in conversation. We feel the system couldn’t accept to all levels in that country.