IFRS case study: U.S. subsidiaries of foreign-owned companies.

While CPAs in the U.S. wait for Securities and Exchange Commission action on its proposed IFRS road map for public companies, U.S. subsidiaries of foreign-owned companies already are well-versed in the international accounting standards, often providing financial statements in both U.S. GAAP and IFRS. This case study profiles three CPAs working in such situations. Even as they express more comfort with GAAP, they...