The United States is moving rapidly toward converging US GAAP with the International Financial Reporting Standards (IFRS) that are followed by most of the rest of the world. The Spiceland author team has posted an IFRS supplement to this website:
https://umdrive.memphis.edu/dspice/www/supplement.html
This text supplement provides an overview of the background and current status of the convergence process. It also highlights emerging issues and key differences between US and international GAAP for each chapter of the text. The supplement will be updated periodically to make sure you are up-to-date with the convergence process so check back often.
Also, substantive changes have recently occurred in the accounting for fair value. You can find the latest coverage of fair value in the supplement linked below. This text supplement provides an overview of the fair value standards and their application to Chapters 1, 12, and 14. It also provides assignment materials related to fair value for each of those chapters. The supplement will be updated periodically to make sure you are up-to-date with the convergence process so check back often:
https://umdrive.memphis.edu/dspice/www/supplement-fvo-s.html
