Week 2 threaded Discussion

Instruction

Graded Discussions: This class will generate many interesting discussions. Participate as much as you can, but at least on three separate days per week. Feel free to share personal experiences. Post recent articles and tell us about them. Let’s have fun with the discussions!

I wanted to make sure you are aware of Keller's policy on Academic Integrity violations. For the student's first offense, the penalty for an Academic Integrity violation in a graduate course is a zero for the course (not just for the assignment, quiz or exam).  Some tips to help you when completing Case Study, and discussions:  “Over cite” is best rather than not citing at all! Follow the 80/20 Rule when writing – 80% your contribution/20% from outside sources. 

1) Describe what you think one of the major milestones in the history of IFRS is. Why do you think this milestone was so important?

2) Given the extensive globalization of business, examine the history and reasoning behind international accounting standards, the current status of U.S. adoption of international accounting standards and the pros and cons, as well as the successes and failures, of international harmonization of accounting standards to date.

Class, what are the advantages and disadvantages of having one set of standards (IFRS) to be followed by all companies worldwide?

3) What do you think the future of IFRS is? Will the U.S. adopt IFRS? If so, when?

4) Given the extensive globalization of business, examine the history and reasoning behind international accounting standards, the current status of U.S. adoption of international accounting standards and the pros and cons, as well as the successes and failures, of international harmonization of accounting standards to date.

 What level of knowledge of issues related to international accounting (including IFRS) do you believe is expected of you by the accounting profession?