Publication Date

1-1-2002

Document Type

Dissertation/Thesis

First Advisor

Norton, Curt

Degree Name

B.S. (Bachelor of Science)

Legacy Department

Department of Accountancy

Abstract

This paper is an assessment of the International Accounting Standards (AIS) and its relationship with the Accounting Standards of United States (GAAP) and Pakistan. The purpose of this paper is to understand the differences between the three accounting frameworks. This will help understand the requirements for a U.S. Company to change its financial statements in accordance with the International Accounting Standards and a Pakistani Company to change its financial statements in accordance with the International or U.S. Accounting Standards. The scope of the paper is to provide an in-depth analysis of some of the major differences between the three accounting frameworks. However, it is important to point out that due to space and time limitations, this paper does not provide a complete list of differences, but addresses some of the major ones. Majority of the information provided is through secondary sources, extracted from various Internet websites of various accounting organizations like, AICPA, Asian Development Bank etc. Also, prior to writing the paper, extensive reading about IAS and U.S. GAAP was done in order to gain an overall understanding of the Accounting frameworks. Upon completion of the project, it was concluded that there is a great possibility that the U.S. Accounting Standards will eventually be eliminated or replaced by International Accounting Standards. However, prior to such a change various other regulating bodies will be required to change their rules and procedures.

Extent

35 pages

Language

eng

Publisher

Northern Illinois University

Rights Statement

In Copyright

Rights Statement 2

NIU theses are protected by copyright. They may be viewed from Huskie Commons for any purpose, but reproduction or distribution in any format is prohibited without the written permission of the authors.

Media Type

Text

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