Comparative Study of US GAAP vs. IFRS Teaching Approaches

Abstract

The coexistence of US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS) presents a critical pedagogical challenge for accounting educators worldwide. While globalization and cross-border capital flows demand familiarity with IFRS, the United States still primarily uses US GAAP for domestic reporting, leading to dual-framework teaching requirements. This paper presents a comparative study of teaching approaches for US GAAP and IFRS in undergraduate and graduate accounting programs. Using a qualitative synthesis of curriculum designs, textbooks, instructional methods, and assessment strategies, the study analyzes how educators structure content, sequence standards, address conceptual differences, and use case-based learning. A conceptual framework is proposed for integrated teaching of US GAAP and IFRS, emphasizing comparative analysis, principle-versus-rule orientation, and the use of multi-jurisdictional financial statement cases. The findings highlight that while US GAAP teaching is often rules- and codification-oriented, IFRS teaching tends to emphasize conceptual frameworks, professional judgment, and disclosure-based analysis. Challenges include curriculum overload, assessment complexity, and faculty readiness. The paper concludes with recommendations for harmonized and comparative pedagogical designs that prepare students for global practice.