US students to bone up on IFRS

KPMG in the US is predicting Stateside business students will be introduced
to IFRS in their classes as convergence efforts continue.

Differences between the IFRS and US GAAP will mean curriculums and textbooks
at US business schools will change to include these new guidelines over the next
few years,

According to Blane Ruschak, KPMG’s executive director of university relations
and recruiting, “US accounting will be accumulated the same way as another
country,” in the wake of more than 100 nations adopting the standards.

Frederick Choi, chair of the university’s Stern’s Department of Accounting,
said New York University is currently creating a team to work on adding IFRS to
its accounting curriculum.

“The world of business today is a global one,” Choi said. “Accounting is the
language of business.”

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