Convergence of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS)

Had to cram some last minute continuing professional education (CPE), but I did get an interesting update on the status of the convergence of GAAP and IFRS.

The 2009 American Institute of Certified Public Accountants (AICPA) Conference on Securities Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) Current Developments yielded no new guidance on the time frame for the convergence of Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS). The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are aiming for a June 30, 2011 timeline with effective dates not expected prior to January 1, 2013.
Some good sites I found with information on GAAP and IFRS. Some sites have good PDF downloads as well:

• A good site by Russell Novak & Company, LLP
• A good downloadable PDF from PriceWaterhouseCoopers (PWC) 
• GAAP-IRS 
• Good PDF by Ernst & Young 
• And of Course, the American Institute of Certified Public Accountants (AICPA) has some good guidance on the International Financial Reporting Standards project(IFRS)