Conversion to IFRS reporting by all U.S. companies would be best accomplished wi

Question

Conversion to IFRS reporting by all U.S. companies would be best accomplished with a transition plan for all of the following reasons except

a.

it would have to be a multi-year process

b.

it needs to be an orderly process with a minimum of cost and disruption to the participants

c.

certain IFRS need further improvement through continued convergence efforts

d.

careful planning would enable maximum manipulation of the IFRS for the financial benefit of the United States.

a.

it would have to be a multi-year process

b.

it needs to be an orderly process with a minimum of cost and disruption to the participants

c.

certain IFRS need further improvement through continued convergence efforts

d.

careful planning would enable maximum manipulation of the IFRS for the financial benefit of the United States.

Explanation / Answer

Careful planning would enable maximum manipulation of the IFRS for the financial benefit of the United States.

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