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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 399 Weeks Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
International Convergence
Your friend who is taking his first accounting course says to you, “We live in the United States. I thought that companies in the United States would follow U.S. accounting rules for preparing their financial statements. I also thought that foreign companies would follow international accounting rules. Now I hear something about the “convergence” of U.S. accounting rules and international accounting rules. And, I hear that the SEC is thinking about requiring U.S. companies to use international accounting rules for financial statements filed with it. What is going on and how will it be resolved?”
Required
Prepare a memo that provides an in-depth answer to your friend’s question.
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