Transparency in Financial Reporting: A Concise Comparison of IFRS and US GAAP - Tapa blanda

By January 2012 all major economies, apart from the US, will provide financial reports using International Financial Reporting Standards (IFRS). This book sets out the key differences between IFRS and US GAAP from a practitioner's perspective, although financial analysts will also benefit from the material presented. The financial crisis has been attributed to, among other things, a perceived lack of transparency in the financial markets. In general, transparency implies an ability to see the reported results of an entity's financial activities clearly and to use these results in making investment decisions. At question is the belief that transparency in financial reporting will lead to transparency in financial markets. Unfortunately, this link may be more subjective than most of us wish. Ruth Ann McEwen presents an analysis of reporting issues affecting transparency under IFRS, compared with US GAAP, and suggests areas of concern for preparers and users of financial reports. Providing an invaluable guide for all accountancy professionals, the book also contains a technical analysis of major accounting issues raised by convergence, and indicates areas of interest during initial adoption of IFRS by US entities. This authoritative book provides all the essential information required for advanced practitioners and analysts at this critical juncture.

Ruth Ann McEwen is Associate Dean of Accreditation and Administration and Professor of Accounting for the Sawyer Business School at Suffolk University. She earned her Ph.D. in Industrial Management with a concentration in Accounting from the Georgia Institute of Technology and taught Financial Accounting at the Master's and Doctoral levels for more than 20 years. She is the author or co-author of more than 40 refereed articles and proceedings focusing on the usefulness of accounting information. She has published in such premier journals as The Accounting Review, Decision Sciences, Accounting Horizons, CPA Journal, International Journal of Accounting and the Journal of Business Ethics and is the author of "Earnings Per Share" and co-author of "Asset Retirement Obligations" published by Tax Management, Inc. In 1998, she presented a series of research papers to a joint seminar of the Financial Accounting Standards Board and the Governmental Accounting Standards Board focusing on current financial reporting. From 2005 until 2008, Dean McEwen served as a consultant to the Financial Accounting Standards Board, authorized as a content expert to codify United States Generally Accepted Accounting Principles which comprises authoritative guidance for US corporate financial reporting. She also consults in areas of financial accounting and standards compliance. Dean McEwen has received numerous scholarly, teaching and research awards.