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What is the current US financial reporting standards?

Some saies that US will adopt international financial reporting standards. Some saies US still holds the GAAP. Which one is currenting using? And will it switch to IFRS future? Which standards, US one vs International one, is better? Thank you

Public Comments

1. The us doller bill worth is plumiting and we are in certian debt. we are not nearly the wealthest anr the most highest in technoligy. due to recent reports we are only the 16th high tech country in the world.
2. Right now the US is still using US GAAP and the rest of the world IFRS, but there is a convergence project on now. The objective of this project is to eliminate a variety of differences between the two. You might want to read the article at the link.
3. GAAP