Abstract
The International Accounting Standards Board (IASB) has developed the International Financial Reporting Standards (IFRS) as a single set of global accounting guidelines. As the world's economy has become increasingly connected, the need for a single set of global accounting guidelines has become necessary. The United States has stated interest in adopting IFRS, although, at this time the United States has not adopted IFRS. This project reviews prior articles on the topic of global accounting convergence. Also, this project examines the Stock and Exchange Commission's (SEC) research on the United States role on global accounting convergence. The conclusion reached is that the United States should adopt IFRS. A single set of accounting guidelines provides greater transparency and consistent information for users of financial statements.