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acc703 speech ii - Dong Yife Article Summary Acc703 AICPA...

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Dong, Yife Article Summary Acc703-11/8/2011 AICPA: Allow U.S. Companies the IFRS Option Now This article mainly talks about a speech of the AICPA president and CEO Barry Malancon at the AICPA/IFRS Foundation Conference about allows US companies the option of using IFRS. In Melancon’s opinion, having the option of using IFRS would be “an effective way for US companies”. During the speech, Melancon reiterated many of the points made in an AICPA comment letter and the SEC continues to weigh a possible framework for incorporating IFRS into the US financial reporting system. As the debate continues, Melancon also admit that there are lots of differences in accounting policy exist between global companies based in the US and global companies based virtually everywhere else in the world. He predicted, there will be a little amount of US companies choose to use IFRS at the beginning time, it won’t bring a significant
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