Comparative analysis of IFRS and US GAAP

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Title	Comparative analysis of IFRS and US GAAP
Authors	Sanko, H. Koldovskyi, Artem Volodymyrovych
ORCID
Keywords	globalization глобалізація глобализация financial accounting principles принципи фінансової звітності принципы финансовой отчетности adaptation адаптація адаптация IFRS GAAP
Type	Article
Date of Issue	2017
URI	http://essuir.sumdu.edu.ua/handle/123456789/61742
Publisher	Sumy State University
License	Copyright not evaluated
Citation	Sanko, H., Koldovskyi, A. (2017). Comparative analysis of IFRS and US GAAP. Financial Markets, Institutions and Risks, 1(1), 14-22. http://doi.org/10.21272/fmir.1(1).14-21.2017.
Abstract	The paper presents a critical analysis of the needs for, reasonableness, and status of the convergence of U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). Differences between IFRS and US GAAP are examined. The authors’ conclusion is that it is both timely and necessary to converge and harmonize IFRS and U.S. GAAP into a single set of Global Accounting Standards. This will lead to a more stabilized and prosperous world economy and it will help to resolve many of the world’s financial reporting problems.
Appears in Collections:	Financial Markets, Institutions and Risks (FMIR)