Comparing IFRS to GAAP, business and finance homework help

Nov 1st, 2016
KateS
Category:
Other
Price: $20 USD

Question description

Write a 700- to 1,050-word summary of your team's discussion regarding IFRS versus. GAAP. The summary should be structured in a subject-by-subject format. Include an introduction and a conclusion. Your discussion should include the answers to the following:

  • IFRS 2-1: In what ways does the format of a statement of financial or position under IFRS often differ from a balance sheet presented under GAAP?
  • IFRS 2-2: Do the IFRS and GAAP conceptual frameworks differ in terms of the objective of financial reporting? Explain.
  • IFRS 2-3: What terms commonly used under IFRS are synonymous with common stock and balance sheet?
  • IFRS 3-1: Describe some of the issues the SEC must consider in deciding whether the United States should adopt IFRS.
  • IFRS 4-1: Compare and contrast the rules regarding revenue recognition under IFRS versus GAAP.
  • IFRS 4-2: Under IFRS, do the definitions of revenues and expenses include gains and losses? Explain.
  • IFRS 7-1: Some people argue that the internal control requirements of the Sarbanes-Oxley Act (SOX) of 2002 put U.S. companies at a competitive disadvantage to companies outside the United States. Discuss the competitive implications (both pros and cons) of SOX.

Format your paper consistent with APA guidelines.

Use your Financial Accounting text and at least two additional scholarly-reviewed references.


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Carnegie Mellon University
PREMIUM TUTOR

Here you go. In case of an...

Studypool has helped 1,244,100 students

8 Reviews


Summary
Quality
Communication
On Time
Value
Five Star Tutor
Dec 5th, 2016
" Outstanding Job!!!! "
SjSurvivor143
Nov 19th, 2016
" Thanks for the help. "
Joemoe
Nov 6th, 2016
" <3 it, thanks for saving me time. "
tinytim47
Oct 28th, 2016
" Wow this is really good.... didn't expect it. Sweet!!!! "
pmallory
Oct 23rd, 2016
" Totally impressed with results!! :-) "
mixedballz
Oct 14th, 2016
" excellent work as always thanks for the help "
kiln82
Oct 1st, 2016
" awesome work thanks "
darnay
Sep 22nd, 2016
" The best tutor out there!!!! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1819 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors