Marks Paneth & Shron Discusses Principles-Based Accounting Demands of IFRS

February 15, 2009

In a Financier Worldwide article that discusses the U.S. adoption of International Financial Reporting Standards (IFRS) and its movement to replace U.S. Generally Accepted Accounting Principles (GAAP), Steven L. Henning,  talks about the principles-based concept of IFRS and how this concept differs from the approach required by GAAP.