Edward A. & Mary C. Goglin Endowed Award in Accountancy
THIS SCHOLARSHIP WILL BE AWARDED FOR THE 2019-20 ACADEMIC YEAR
Consideration for this scholarship is given to qualified students who exhibit financial need. All DePaul University students from any college are eligible apply. Applicants must submit an essay on this specific topic in the field of accountancy (see below):
It appears that the convergence of United States Generally Accepted Accounting Principles (US GAAP) with International Financial Reporting Standards (IFRS) has either stalled at best, or is moribund. Given this background:
1) Briefly cite some key dates in the convergence movement with bullet points,
2) state the nature (key elements) of the two sets of accounting principles and the advantages and disadvantages of each,
3) why the convergence movement is in its current state, and
4) provide a cogent argument as to whether this is a good or bad event.
Your answer should be no more than two pages in length.