United States - The Long View on IFRS

IFRS and US GAAP will converge over the next 5 to 10 years with a few differences to accommodate US domestic quirks, according to Gerhard Mueller, a longtime proponent of international accounting. One of the greatest challenges confronting convergence is accounting education in the US fully integrating IFRS into textbooks and the curricula. (Read the article The Long View on IFRS: Gerhard Mueller in the Journal of Accountancy.com.)