Pnkamz13's Blog

Really Moving Forward

pnkamz13 — Fri, 13 Nov 2009 16:33:04 +0000

Yesterday, 11/12/09, was our first deadline for this final project. LeighAnn and I meet to discuss what information we have and how to really outline our paper. I felt our meeting went well and we redeveloped our paper outline so it will flow nicer.

We decided to add another section to our paper because we feel our section about why the switch is taking place will not be long enough. We decided to add the differences between the IFRS and GAAP. I feel that adding this section will help make our paper longer and have more details. A good source that will provide me with this information is Treatment Differences and Political Realitives in the GAAP-IFRS Debate.

Speed Bump

pnkamz13 — Wed, 11 Nov 2009 15:53:27 +0000

I found a lot of information on the IFRS change but come to find out most of the research I found is not relative to the sections I need to write.

This little speed bump has set me back a little bit to writing my outline for my sections but I will continue to look for more relative information. I have some relative information but I feel that I need more information to make my sections of the paper long enough.

One site that I found relative information about is Journal of Accountancy. This article talks about the differences between GAAP and IFRS. It also talks about why the switch is taking place.

PricewaterhouseCoopers

pnkamz13 — Mon, 09 Nov 2009 15:54:58 +0000

Research is going very smoothly and is starting to progress very quickly. I currently have ten sources that have information but I do not know if I wil be using all of them or not.

Upon reading my research, PricewaterhouseCoopers article was very interesting. I did not know that they are priving grant money to schools for further education towards the IFRS switch. I believe doing this will help the transition from GAAP to IFRS be much easier.

Research Started

pnkamz13 — Fri, 06 Nov 2009 19:34:40 +0000

Started the tons of research last night to see what type of information is out there. Come to find out there are quiet a few journals and articles. I started to use the Drake library website to find some databases. I started to use EBSCO and Gale databases.

This article titled, IQMS Announces Compliance With International Financial Reporting Standards (IFRS), asks many questions about the switch to the chair of the AmericanInstitute of CPAs. I believe this article is going to be very helpful and filled with tons of information.

Day 2

pnkamz13 — Wed, 04 Nov 2009 16:12:22 +0000

Paper is underway!!

Started an outline for when each part of the paper should be done.
Due dates:
November 12th – Research
November 19th- Rough Draft
November 24th- Review Paper
December 1st- Start developing Powerpoint Presentations
December 9th- Final Draft
December 11th- Paper Due

Some of my research will be done at EBSCO Database and will be conducting interviews with professionals to gather some information.

Hopefully by Friday will have most of the research done to be able to start writing my part of the paper!

Beginning Stages

pnkamz13 — Mon, 02 Nov 2009 16:41:04 +0000

Hello Accounting Industry,

I am Amy Auble and I am a student at The College At Brockport. For my Business Writing Class we have to write a final report about an issue in our major. The switch from GAAP ( General Accepted Accounting Practice) to IFRS ( International Financial Reporting Standards) is causing many issues and debates. Some are saying the switch is going to cause more issues than helping the industry. As of 2014 every accounting firm will need to be using IFRS standards.

Some of the problems that might occur for making the switch from GAAP to IFRS to be successful, everyone in the industry must be well-educated and willing to implement the changes. Accountants need to know specifically what the changes will entail, how they will be implemented, and why the changes are necessary. There may be resistance to the upcoming change, and this resistance will need to be overcome for the switch to be successful.

Videos and other information can be found at Price Water House Coopers website.