The move towards adopting International Financial Reporting Standards (IFRS) continues. Currently, over 100 countries have adopted IFRS and the SEC asked the U.S. accounting profession to comment on its Roadmap for adoption and/or convergence to IFRS. The SEC stated, “This Roadmap sets forth several milestones that, if achieved, could lead to the required use of IFRS by U.S. issuers in 2014 . . .” (p. 1) One of the milestones relates to education and training. The SEC stated, “Colleges and universities would need to include IFRS in their curricula. Furthermore, it would be appropriate to include IFRS in the Uniform CPA Examination.” (p. 29).

This article is from the Accounting Instructors’ Report, an electronic journal that provides teaching tips and insights to those who teach accounting and other business courses.

Contributors:
Dr. Roberta J. Cable, CMA*, Pace University
Patricia Healy, CPA and MBA, Pace University
Ashton Vines, Pace University

Read A Survey of Community College Educators on the Incorporation of IFRS into the Accounting Curricula.