The International Accounting Standards Board (IASB) website is a great resource to keep on top of International Standards. Navigate to the IASB’s website and locate IFRS and IAS Summaries. Select one of the IFRSs and read through it. In your discussion, share a brief summary of your chosen IFRS and suggest how its implementation would impact U.S. financial reporting.

Please respond in 2 or more paragraphs and cite all references.