Big Four PricewaterhouseCoopers is going at it again – offering more than $1 million over two years to help universities get students ready for International Financial Reporting Standards.

The grants are earmarked to help professors develop curriculum and transform course syllabi and assignments to include IFRS. PwC’s strategy behind this is simple – they believe that preparing students for new global accounting standards can be an important factor in their long term professional success, regardless of whether or when the U.S. actually adopts. IFRS is currently used by upwards of 12,000 companies in more than 100 countries.

In addition, the firm will also provide educational material directly to students and faculty through a series of web-based videos and tools. The videos will explain IFRS, why it matters and its affect on the accounting profession today. Students will also be able to explore interactive IFRS financial statements that enable them to see and understand the differences between IFRS and U.S. GAAP.

“In an increasingly global economy where adoption of IFRS continues it is important that the newest generations of accounting professional understand IFRS and its business implications,” said Jean Wyer, partner and leader of college and university relations for PwC. “Our collaboration with colleges and universities across the country will not only help to develop new curriculum, but position future accountants to be ready to meet the IFRS challenge head-on.”