Accounting Standards
Convergence of Accounting Standards, Ethics Take Center Stage at IMA Annual Conference
July 7, 2008
IMA photo
Leslie F. Seidman of the FASB addresses the 89th
Annual IMA Conference in Tampa. Conrad W. Hewitt,
Chief Accountant of the SEC, is seated to the right.
Approximately 1,100 corporate accounting and finance professionals from around the country, and some from around the world, gathered in Tampa, Florida two weeks ago for the Institute of Management Accountants (IMA) 89th Annual Conference & Exhibition.
The impending convergence of U.S. Generally Accepted Accounting Principles (GAAP) with International Financial Reporting Standards (IFRS), a process with enormous ramifications for businesses and investors worldwide that has received very little media attention, took center stage throughout the five-day event. Professional ethics, internal controls, the balanced scorecard, revenue management and strategic cost management were notable among the many other sessions devoted to various aspects of management accounting and finance.
