Answer the following homework questions thoroughly and in complete sentences. Save your answers in a Word document.
What are the two most important factors in support of implementing IFRS for publicly traded companies in the United States?
What are the two most important factors against implementation of IFRS for publicly traded companies in the United States?
What are the conditions that the SEC has said are requirements for adopting of IFRS? Which of these will be most difficult to implement and why?
Explain the development of the IASB and IFRS. Include a description of the history of the standard-setting body.
Discuss the differences between adoption, convergence/harmonization, and endorsement.
What are some of the cultural challenges to harmonization?
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