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  3. 1. parker is considering adopting ifrs for financi

1. Parker is considering adopting IFRS for financial reporting. What are some of the key...

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Accounting

1. Parker is considering adopting IFRS for financial reporting. What are some of the key differences between IFRS and US GAAP that might impact Parker? What are some of the advantages and disadvantages that might accrue to Parker if it adopted IFRS for all of its operations?

2. Would adoption of IFRS require additional reporting requirements for the SEC? What role does the IASB, FASB, PCAOB and SEC play in promoting high-quality accounting information for US and global businesses? Does the retention of a separate US GAAP in an otherwise IFRS world environment present any challenges for US based companies?

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