What is the status for implementing IFRS from the SEC perspective?
2) What is the status respecting IFRS and GAAP convergence from the FASB perspective?
In addition, describe the main differences between IASB’s conceptual frameworks
(issued in 2018) and those in U.S. GAPP.
3) With respect to financial reporting for U.S. companies whose stocks are publicly traded,
why should those U.S. companies adopt IFRS?
4) With respect to financial reporting for U.S. companies whose stocks are publicly traded,
why should those companies not adopt IFRS?
5) Not that you have reviewed both positions respecting IFRS adoption, do you favor IFRS
adoption by U.S. companies? Why or why not? (Which of the arguments made earlier is more important?)