{"id":11940,"date":"2011-05-09T11:18:44","date_gmt":"2011-05-09T15:18:44","guid":{"rendered":"https:\/\/biznews.fiu.edu\/?p=11940"},"modified":"2014-11-14T15:59:41","modified_gmt":"2014-11-14T20:59:41","slug":"undergraduates-debate-the-adoption-of-international-financial-reporting-standards","status":"publish","type":"post","link":"https:\/\/biznews.fiu.edu\/2011\/05\/undergraduates-debate-the-adoption-of-international-financial-reporting-standards\/","title":{"rendered":"Undergraduates debate the adoption of International Financial Reporting Standards."},"content":{"rendered":"

A year ago, graduate students in the Master of Accounting<\/a> (MACC) program in the College of Business Administration at Florida International University (FIU) debated the question \u201cShould the United States adopt the International Financial Reporting Standards (IFRS) now being used by more than 100 countries?\u201d<\/p>\n

This spring, the first IFRS event for accounting undergraduates took place. Ten students enrolled in Intermediate Accounting<\/em> debated the same topic in front of an audience of about 150 and a five-judge panel: event organizers Abhijit Barua<\/strong>, Stephen Lin<\/strong> and J<\/strong>ohn Wang<\/strong>—the faculty members who teach the course—as well as <\/em>Eric Gillman and Patrick Gutierrez, both from PricewaterhouseCoopers.<\/p>\n

\"\"<\/a>
Stephen Lin <\/figcaption><\/figure>\n

Whether or not the United States decides to adopt the standards, their implementation worldwide means that knowledge about them will be critical for future accountants. In addition, since 2010, the CPA Exam has included questions about IFRS.<\/p>\n

\u201cI want to do accounting in Brazil, so the research I did to prepare for the debate will be very helpful,\u201d said junior accounting major Jason Karukin<\/strong>, who gave the closing argument for the winning pro-adoption team, and who received the award as the best speaker. \u201cIt was also helpful because I had never participated in a debate before, plus it was lots of fun.\u201d<\/p>\n

\"\"<\/a>
The \u201cpro team\u201d Jason Karukin, Barbara Sanchez, Elizabeth Figueroa, Matthew Fong Choi, and Helen Feliz, with Carlos Andres, from the \u201canti-team\u201d at the lectern. <\/figcaption><\/figure>\n

The team arguing for adoption also included Matthew Fong Choi<\/strong>, Helen Feliz<\/strong>, Elizabeth Figueroa<\/strong> and Barbara Sanchez<\/strong>. Carlos Andres<\/strong>, Stephanie Hocke<\/strong>, Kevin Pang<\/strong>, Vanessa Penaloza<\/strong> and Maryia Shkaredzenok<\/strong> argued against the adoption.<\/p>\n

\"\"<\/a>
The \u201canti team\u201d Stephanie Hocke; Maryia Shkaredzenok; Kevin Pang; Vanessa Penaloz, the third-best speaker; and Carlos Andres, the second-best speaker. <\/figcaption><\/figure>\n

The event was part of a prestigious curriculum grant from PricewaterhouseCoopers Charitable Foundation awarded to Barua, Lin and Wang for their proposal \u201cIntegrating IFRS in both accounting-major undergraduate and MACC programs at FIU.\u201d<\/p>\n

\"\"<\/a>
PwC\u2019s Patrick Gutierrez and Jason Karukin, named the best speaker<\/figcaption><\/figure>\n

Second event challenges students on IFRS.<\/em><\/p>\n

Approximately 130 students took part in the school\u2019s first-ever IFRS quiz competition. During a 40-minute session, they answered 35 questions about the standard.<\/p>\n

\u201cThese were two ways to help our students perceive the importance of IFRS and to understand ways it is already affected Generally Accepted Accounting Principles (GAAP),\u201d Lin said, \u201cand it is an effort we will continue for our undergraduates and graduates.\u201d<\/p>\n

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A year ago, graduate students in the Master of Accounting (MACC) program in the College of Business Administration at Florida International University (FIU) debated the question \u201cShould the United States adopt the International Financial Reporting Standards (IFRS) now being used by more than 100 countries?\u201d This spring, the first IFRS event for accounting undergraduates took […]<\/p>\n","protected":false},"author":71,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[13],"tags":[16,1332,2388,2484],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/11940"}],"collection":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/users\/71"}],"replies":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/comments?post=11940"}],"version-history":[{"count":1,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/11940\/revisions"}],"predecessor-version":[{"id":23896,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/11940\/revisions\/23896"}],"wp:attachment":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/media?parent=11940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/categories?post=11940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/tags?post=11940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}