Accounting Discussion
In addition to preparing financial statements in accordance with GAAP, U.S. companies may be required in the near future to prepare financial statements according to International Financial Reporting Standards (IFRS). If the United States adopted IFRS standards, what would be the advantages and disadvantages? Does it make sense for U.S. companies to change to IFRS? How would IFRS impact a comparative analysis of an organization's financial statements?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.