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Discuss the pros of endorsement versus convergence approache

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Discussion

• In August of 2011, the AICPA issued a letter that recommended "adoption" of IFRS through either endorsement or convergence. In September of 2011, the AICPA indicated that the "U.K. accounting organizations are pushing for the U.S. to take a 'big bang' approach to" IFRS.

• Discuss the pros and cons of the endorsement ("big bang") approach versus the convergence approach to adopting IFRS.

Reference no: EM131794045

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