Business Finance
Principle of Accounting Essay Week 4

Question Description

I’m studying for my Accounting class and need an explanation.

Principle of Accounting Essay week 4.docx

Unformatted Attachment Preview

Write a 700- to 1,050-word summary of the team's discussion about IFRS versus GAAP, based on your team collaborative discussions. The summary should be structured in a subject-bysubject format. An introduction and a conclusion are needed. Your essay should include the answers to the following: • • • • • • IFRS 8-1: What are some steps taken by both the FASB and IASB to move to fair value measurement for financial instruments? In what ways have some of the approaches differed? IFRS 9-1: What is component depreciation, and when must it be used? IFRS 9-2: What is revaluation of plant assets? When should revaluation be applied? IFRS 9-3: Some product development expenditures are recorded as development expenses and others as development costs. Explain the difference between these accounts and how a company decides which classification is appropriate. IFRS 10-2: Explain how IFRS defines a contingent liability and provide an example. IFRS10-3: Briefly describe some similarities and differences between GAAP and IFRS with respect to the accounting for liabilities. Format your essay consistent with APA guidelines. Use the Financial Accounting text and at least two additional scholarly-reviewed references. ...
Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

This question has not been answered.

Create a free account to get help with this and any other question!