American Exceptionalism Advantages And Disadvantages

302 Words2 Pages
US exceptionalism There are the disadvantages in acceptant of IFRS which it not globally accepted. FASB set the US financial accounting standards. In US, they have their own unique views and justify compare to others nations, there are not yet accepting of IFRS. IFRS is hardly acceptable in US due to barrier of the political, conflict between US and others nations. The “American exceptionalism” arise which US have the “great power” over the time and they view themselves as the “exceptional”. This shows the high resistance to change since US views their standards are good enough then others. Yet, the complexity of US regulatory will be the difficulties in the relationship between US and IFRS. As stated by Hussein and Ketz (1991) have determine