Accounting

JASON ROACH

INTERNATIONAL ACCOUNTING AC 620

SPRING 2012

W. W. GRAINGER INC

The main focus of this paper is to review the current accounting principles that W. W. Grainger Inc. uses and the impact that changing to International Financial Reporting Standards (IFRS) would have on the company. This paper will give a detailed company history and overview. It will then discuss the company’s mission statement along with their strategic vision. Next, it will review Grainger’s financial and examine what effects will occur if they change from Generally Accepted Accounting Principles (US GAAP) to IFRS. This paper will conclude with a recommendation as to whether or not Grainger should continue using US GAAP or change to using IFRS before it becomes mandated by the government.

Grainger helps customers save time and money by providing them the right products to keep their facilities up and running. Grainger is a broad-line distributor of maintenance, repair and operating supplies, and other related products and services used by businesses and institutions. Some of the products that Grainger sells are motors, lighting, material handling, fasteners, plumbing, tools, and safety supplies to its customers. Grainger's customers are 2.0 million businesses and institutions in 157 countries. While each customer has a unique facility to operate and a different problem to solve, our customers all share the same requirement: when they need one of Grainger's products, they often need it right away. With more than 18,500 knowledgeable employees, the Grainger team works closely with customers to better understand their challenges and provide cost-saving solutions (W. W. Grainger, Inc. Company Information).

William W. (Bill) Grainger founded a wholesale electric motor sales and distribution business in Chicago in 1927. He established the company to provide an efficient solution for customers to access a consistent...