Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng

Exercise 1

Convergence. One of your clients has recently read about the goal of converging to International Accounting Standards and they are concerned about what impact it may have on their company.
1. Discuss some of the costs that a company might incur as part of its converging with International Accounting Standards.
2. Discuss why it might be important to your client to adopt International Accounting Standards even though they are currently only operating domestically throughout the central part of the United States.