Accounting principles in the United States are converging toward international standards. If convergence continues, and there are proponents and detractors, then the U.S. system of accounting, called Generally Accepted Accounting Principles (GAAP), will eventually be replaced by International...

The efficiency and competitiveness of global capital markets depends on the ability of financial statement preparers to communicate effectively with investors through financial reports. Despite the global movement to adopt IFRS, US adoption of IFRS is still uncertain. To assess potential for...

"As products, services, and capital increasingly cross domestic borders, the likelihood that various parties to business transactions are based in different countries increases. These parties must contend with the reality that information on their business partners often exists in an accounting...