Although a clear path toward adoption of International Financial Reporting Standards in the United States hasn’t been established, the largest public companies are already mulling their approach toward converting to a new accounting system.
Given the massive complexities such a conversion is likely to involve—especially when moving from the highly prescriptive U.S. Generally Accepted Accounting Principles to a more flexible, principles-based IFRS—it’s no wonder companies are looking at the full spectrum of options for how to arrive at the end result.
