The Transition from US GAAP to International Financial Reporting Standards and Its Implications - How Mango Concept Can Help
The adoption of International Financial Reporting Standards (IFRS) has occurred within over 12,000 companies worldwide, with an anticipated transition by American companies to the US GAAP: it is believed that the ultimate adoption of IFRS in the United States is inevitable and will affect the majority of organizations in the short term. This process (requiring an estimated allocation of 0.13 percent of annual corporate revenue) calls for new accounting and reporting requirements whose complex processes and systems are modified for clients with the assistance of IFRS professionals.