Bright Lines: A Detailed Analysis of Differences between U.S. GAAP and IFRS, the Issues Facing Global Convergence, and the Accounting System the World Market Needs Most

Identifier

168

Author

Dylan Mikel Ortiz

Date

2020

Document Type

Honors Thesis

Degree Name

Bachelor of Business Administration

Major

Accounting

Concentration

Business Finance

Committee Member

Jeffrey Mark Nevels

Abstract

Since the Great Depression, the world has used accounting systems to govern the way financial data is reported. Doing so has helped ensure the integrity of financial information as well as aided in the decisions of investors across the world. For decades, the world has operated under several different accounting systems. The most relevant are the United States Generally Accepted Accounting Principles (U.S. GAAP) and the International Financial Reporting Standards (IFRS). The purpose of this research study is to delve deep into the history of convergence attempts, explore U.S. GAAP and IFRS in their own rights, evaluate each based on the largest differences between them, and develop a conclusion based on research that determines which accounting system would be the most effective and efficient set of accounting principles that has the capability of governing financial data of the world market.

Comments

Undergraduate Honor's Thesis

Library Comment

Honors thesis originally submitted to the Local University of Memphis Honor’s Thesis Repository.

Recommended Citation

Ortiz, Dylan Mikel, "Bright Lines: A Detailed Analysis of Differences between U.S. GAAP and IFRS, the Issues Facing Global Convergence, and the Accounting System the World Market Needs Most" (2020). Honors Theses. 105.
https://digitalcommons.memphis.edu/honors_theses/105