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evaluative language

comparative language

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from Scott Forbis' AB page:

Pon, Wing W. "Incorporating IFRS Into The U.S. Financial Reporting System." Journal Of Business & Economics Research 10.5 (2012): 303-311. Business Source Complete. Web. 9 Nov. 2012.

Wing W. Pon is an associate professor of accounting at Montclair State University and has had his works published in many business and accounting journals. The author describes the details of the plan of action the SEC is taking to incorporate the IFRS into the U.S. financial reporting system. Pon breaks his article up into several categories with a few subcategories. He discusses the “birth” of the IFRS and how it became the financial reporting standard used internationally. Also he mentions that there are doubts about the quality of the IFRS and there are concerns about whether or not the IFRS will be suitable for U.S. issuers and investors. The author does a good job describing those doubts and concerns in detail. Like other articles on the convergence of the accounting standards, this article also contains the progress of the SEC’s decision on adopting the standards, but only recent progress is discussed in the article. What makes this article a bit more unique than the others is that Pon provides his own predictions on the SEC’s next moves. He talks about three possible outcomes, the first, which is what is currently occurring “is that the SEC decides not to incorporate IFRS into the financial reporting system for U.S. issuers” (Pon 309). The other two are converting GAAP into a version of IFRS or allowing U.S. companies to prepare financial statements in IFRS format. The amount of points that this article touches on will make it useful for my research. This article gives a good picture of the progress and issues of the possible adoption of IFRS.  This paper is directly relevant to my research question because it defines the two governing agencies in charge of accounting standards and reports on their likelihood of convergence.