Resistance to Changes in Financial Reporting Standards

Edel Lemus

Aug 2016 · Cambridge Scholars Publishing

About this ebook

This book investigates current resistance to the ongoing change from US Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS). 138 countries have, thus far, adopted IFRS as a singular accounting language, while the Securities and Exchange Commission (SEC), the Financial Accounting Standard Board (FASB), and the International Accounting Standard Board (IASB) have determined that IFRS should be adopted optionally in the United States by 2016. The book shows that IFRS should act as a singular accounting language, which will promote high transparency and a better economic position in the world financial market.

About the author

Dr Edel Lemus is Acting Director, Assistant Professor, and Institutional Business Development Professor in the Business Department at Albizu University, USA. He received a BA in Accounting and a Master’s degree in International Business Administration in Finance from Nova Southeastern University, USA, and a Doctorate of Business Administration (DBA) in accounting from Argosy University, USA. His primary research focus is international accounting, International Financial Reporting Standards, international finance, international business, and new venture capital investment. His research on IFRS has been published in numerous journals, including Global Journal of Management and Business Research, Journal of Alternative Perspectives in the Social Sciences, Universidad Complutense (Madrid, Spain), Observatorio Iberoamericano de la Economia y Sociedad de Japón, and ICL Journal (New Zealand). In recognition of his multiple achievements, Dr Lemus was selected by his peers as the Mace Bearer for the 2014 Carlos Albizu University Commencement Exercises, and is a Kentucky Colonel, a Texas Navy Admiral, and a recipient of the President’s Lifetime Achievement Award for Education.