Title

International Accounting Convergence: A Writing Assignment

Department/School

Accounting

Date of this version

2012

Document Type

Article

Keywords

International Financial Reporting Standards (IFRS), accounting convergence, accounting writing case, comment letters

Abstract

There is an ongoing discussion in the United States related to whether or not the United States should adopt International Financial Reporting Standards (IFRS). The Securities and Exchange Commission (SEC) has released four proposals relating to the potential adoption of IFRS in the past five years. The Financial Accounting Standards Board (FASB) has responded to these SEC releases with comment letters. We share our experience with a writing assignment based on these comment letters. The assignment requires students to research the FASB’s website as well as the FASB’s comment letters responding to SEC releases relating to IFRS. Students then evaluate the benefits and costs of IFRS adoption in the United States. The goals of the assignment are to introduce students to the history of accounting convergence and to allow students to critically assess the benefits and costs of U.S. adoption of IFRS. The assignment is suitable for international, intermediate, and advanced accounting courses.

Published in

Advances in Accounting Education: Teaching and Curriculum Innovations

Citation/Other Information

Grimm, S. and D. Hoag. International Accounting Convergence: A Writing Assignment. 2012. Advances in Accounting Education: Teaching and Curriculum Innovations, 13, 383–404.

http://www.emeraldinsight.com/books.htm?chapterid=17047742