Wolosky, Howard W. "Convergence: What Firms Are Doing Now." Practical Accountant 42, no. 3 (2009): 19-22.

This article discusses the proposed roadmap for convergence to IFRS and how different firms are handling the situation. It begins by describing how individual firms are internally preparing for the convergence. Some companies, like McGladrey & Pullen for example, have many training programs in place for their personnel and clients. Some of these training programs include: Web casts, meetings with similar firms, conferences, and also online resource centers. There are other firms that are taking a “wait and see” approach to the roadmap. For example, BKD here in Springfield Missouri gives its employees and clients different documents discussing what IFRS is and the differences between it and U.S. GAAP. The next topic this article covers is the impact the convergence will have. It explains that at first it will be costly and difficult, but that it sees a positive impact in the long run. Since this convergence will be costly in the beginning many firms are waiting on the SEC to set the roadmap. A small section of this article explains how this will not only affect the financial statements, but also different departments within companies. The last thing the article discusses is that the convergence can be seen as a revenue producing opportunity for many firms. Clients will need assistance in the process and accounting firms will be able to be there to help. The topic of convergence is reviewed in chapter 3 of our International Accounting textbook. In this portion of chapter 3 it lists the arguments for and against convergence. A lot of these arguments were seen in the above article. For example, the initial cost can be expensive, enough to hurt smaller companies in less developed countries. It also covers what the IASB is doing to implement IFRS and how