Please check out my paper for that with link: http://www.euroasiapub.org/IJRFM/July2013/2.pdf

Attached are articles that deals with various aspects of the GAAP - IFRS debate from different perspectives: SEC, accounting quality, shifting cost & challenges, etc. i trust these are helpful materials to get start with. Cheers.

the attached file may help you.

I would recommend the speech of the IASB President in Korea to start with. There seems to be a competition whose setting of accounting standards might win globally.

The IASB in London produces the IAS/IFSR for the EU. There is a formal decision required to make them EU-Standards i. e. direct law without agreement of the individual EU-countries – thus IAS 1 til 41 and IFRS 1 til 15(?) are EU-law.

You may know?

The IASB in London is a subsidiary of the International Accounting Standards Foundation (IASF), a tax-exempt organization in the U.S. state of Delaware.

https://en.wikipedia.org/wiki/International_Accounting_Standards_Board

Besides the EU the IASB is accepted with excemtions in Korea, Japan, South America, Hongkong, and even mainland China – they are in discussion with FASB.

One point of discussion and concern was as in the US the fair value.

In German the „Grundsaetze ordnungsgemaesser Buchfuehrung“ (GOB, somehow principles of proper accounting) are similar to the GAAP. The IAS/IFSR and FASB moved the discussion from the controller and traditional accounting prof‘s to the 4 major accounting firms and banking who dominate the new diskussion now - unfortunately.

I am familiar with the German accounting (part of the Dipl.-Kfm. Studies) and working for an Int. US IT-enterprise 30 Y. with US-accounting in the 80s. „Introduction to Managemen Accounting“, 6th. Ed. By Charles Horngren. There was a picture of the twin towers on the cover but no mentioning of fair values, options or other derivatives...

My academic interest – researching financial market models - startet with the question: How do the accounting standards refer to high maths models like Black&Scholes, fair value, volatility...

Pls see: „Volatility ndexes seem to point to the Past“ under ResearchGate. All standards material is published by the IASB in London – costs at least 2x 90£/a – discounts for academics. Because of copyright restrictions please refer to http://shop.ifrs.org/ProductCatalog/Default.aspx. The IFRS are supposed to replace all IAS as a final set of accounting standards. However, currently most of IAS are still valid with numerous cross references

In particular: see Standard IAS 39, AG 82 (f) and IFRS 13 (referring also to IFRS 9)

[AG = Application guidance – still part of EU law]

Fore the moment I have to finish. I am very interested in the subject and like to provide further refs.

rgs g