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Moving on from GAAP [#permalink]
08 Sep 2008, 05:53
So, I wanted to get everyone's thoughts on the possible shift from US GAAP accounting rules to the IFRS standard. Has this been discussed on campus yet and how might it effect accounting classes? Anyone familiar with both standards as an international applicant and can share their opinions? What impact will this have on current applicants as the shift is supposed to be fully implemented by 2016 with the larger companies in an industry moving first (possibly in 1-2 years)?
Wow that's actually pretty big news for anybody in the finance industry. Analysts need to understand accounting. I understand GAAP but I know very little about IFRS. I think they're pretty similar though. I remember some chart comparing the two when I was studying for the CFA and they were very similar in most areas. I think GAAP and IFRS have actually been moving towards eachother for a while. Still, I'm not to happy about this change. The last thing I want to do is learn new accounting.