Can IFRS bridge the standards gap?

09/30/2013 | Manufacturing.net

This article discusses the pros and cons of International Financial Reporting Standards, stating that while standardization could benefit accounting professionals, shareholders and investors, its broad-brush approach could also present opportunities for manipulation of the standards. IFRS has also not been widely adopted: Many jurisdictions retain U.S. GAAP as the gold standard. The article recommends that businesses adopt a financial-management platform that can accept financial data in multiple formats.

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