BTerrell Group Blog

U.S. GAAP & IFRS Coming Together?

Posted by Meredith Gooch on Thu, Feb 25, 2010

In November 2008, the Securities and Exchange Commission (SEC) issued a proposed roadmap for making the transition from the United States Generally Accepted Accounting Principles (US GAAP) to the International Financial Reporting Standards (IFRS). At the time, the SEC did not have enough information to decide if IFRS should be incorporated for American public companies. 

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Tags: SEC, Securities and Exchange Commission, IFRS, International Financial Reporting Standards, US GAAP, FASB, Financial Accounting Standards Board, Generally Accepted Accounting Principles