On Thursday April 12, 2012, Steve Hirsch, Accounting Program Chair from Minnesota School of Business in Blaine, participated in a webinar that dealt with the convergence of the International Financial Reporting Standards (IFRS) with US Generally Accepted Accounting Principles (GAAP). Updates were given on what changes have been made along with which ones will be worked on in the near future. The presenter was Dr. Terry Warfield from the University of Wisconsin – Madison.
MSB’s accounting curriculum and especially the Intermediate Accounting classes have begun to infuse these IFRS standards into the class homework and discussions. The current textbook has sections devoted to IFRS topics and class assignments have been
given to report on recent developments and the implication of making the changes.