Includes bibliographical references and index.

Introduction to the convergence of financial reporting standards -- How convergence will impact the United States -- Prepare for the impact of convergence now -- Conceptual frameworks -- Principles-based standards -- Different standards for different companies? -- Financial statements : a first look -- Fair value and related measurement issues -- Major asset classes -- Other balance sheet items -- Reporting financial performance -- Business combinations, intercompany investments, and segment reporting -- Financial statements : what is ahead -- Overview of U.S. labor markets for financial reporting talent -- Obsolescence of knowledge, skills, and abilities -- Commoditization of talent -- Toward a global labor market for financial reporting talent -- Transformation of the talent supply pipeline -- Overview of the challenges of convergence -- The enterprise challenge : strategies for choosing standards and implementing your choice -- Departmental challenge : tactics for managing talent -- Personal challenge : career choices for a hypercompetitive labor market.

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