IFRS in the U.S. Business Environment - Vision for the Future

Bouaziz Nacer¹, Djenina Amor¹, Djellaba Ali² and Sadraoui Tarek^3,

¹University of Guelma, FESCG, Guelma, Algeria

²University of Tebessa, LESD, Tebessa, Algeria

³University of Sfax, IHEC, Sfax, Tunisia

Cite this paper:
Bouaziz Nacer, Djenina Amor, Djellaba Ali and Sadraoui Tarek. IFRS in the U.S. Business Environment - Vision for the Future. International Journal of Econometrics and Financial Management. 2018; 6(1):17-21. doi: 10.12691/ijefm-6-1-3

Abstract

The study attempts to shed light on a topic that has raised a lot of interest among the international accounting community, namely the possibility of adopting international accounting standards in the American business environment, coinciding with the international convergence project between FASB & IASB, which began in 2002 and still to this day has not taken its place. The study found that the goal of reaching one set of accounting standards through the convergence project is not a practical or achievable goal for the foreseeable future, and the USA does not intend to adopt international accounting standards but is trying to press its industry path in line with its business environment rather than directly follows.

Keywords:
IAS/IFRS US-GAAP FASB IASB international convergence project

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