International Reporting Standards (IFRS) has become the required framework for most of the world financial markets effective on January 1, 2011. The United States is in a transformation stage, and it has not yet been determined when the US will adopt IFRS. The introduction of IFRS accounting...

The world has become increasingly interrelated in the past three decades. Technology and the internet have dramatically facilitated communications, there is increased foreign investment, global trade barriers have been minimized and there is increasing outsourcing of work. As Thomas Friedman...