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Students' facility with U.S. and international accounting standards

This study investigated accounting students’ ability to identify the appropriate accounting standards for the United States and other major regions and to gauge their perceptions regarding several aspects of U.S. and International Accounting Standards. Students’ answers were close to the neutral range for four perception items: (a) the acceptability of U.S. GAAP for Asian and European countries, (b) the requirement of reporting to the SEC, (c) the conservatism of U.S. GAAP, and (d) the growing compatibility between U.S. GAAP and International Accounting Standards. Students perceived knowledge about international accounting standards as somewhat important for business careers.

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