CompetencyEvaluate the proper accounting for transactions with respect to interim and segment reporting using the accounting codification and other accounting research tools.ScenarioCM Corporation (CMC) was founded six years ago by Phil Connor and Eric Martin. The company designs, installs, and services security systems for high-tech companies. The founders, who describe themselves as "entrepreneurial geeks," met in a computer lab when they were teenagers and found they had common interests in working on security systems for critical industries. CMC hired you as a junior accountant this year.Lately, Connor and Martin have been working with "radio frequency identification" (RFID) technology. They have developed a detailed system designed to track inventory items using RFID tags embedded invisibly in products. This technology has numerous inventory applications in multiple industries.One of the most basic applications is tracking manufacturing components; if tagged components "go walking" (if employees attempt to take them), companies can easily track and find them. Connor and Martin have sold their system to several high-tech companies in the area. These companies have a number of government contracts that require extensive security systems to protect sensitive data from infiltration by terrorists and others. To date, CMC's cash flow from sales and services has adequately funded its operations.CMC expects much growth potential for its products. As a result, they are considering going public and expanding internationally in the near future. Many of the issues you will address in this course project involve researching topics involving these anticipated events.InstructionsConnor and Martin have heard that IFRS is used internationally for financial statements, but they know very little about it. Since they will most likely be going public and expanding internationally in the near future, they are considering switching to IFRS from GAAP and would like more information. They also realize if they go public and expand their business, they will have to deal with some issues they have not had to deal with previously, such as interim and segment reporting. Prepare a research memorandum for Connor and Martin addressing their questions below: What are the similarities between GAAP and IFRS? What are the major differences between GAAP and IFRS? What are the requirements for interim reporting under both GAAP and IFRS? Are there any problems or issues associated with interim reporting? What are the advantages and disadvantages of providing segmented reporting? What are the requirements for segment reporting under both GAAP and IFRS? Include the definition of an operating segment. Memorandum Mechanics should be as follows: The body of the memorandum should be a professional presentation centered on clear and concise writing. The responses to the questions should be detailed, well researched, and specifically related to CMC's industry. Use the FASB Codification and IFRS to address all technical accounting issues presented in the questions, being certain to reference the applicable sections of the Codification and IFRS in your report. You may quote directly from the Codification and IFRS as long as all direct quotes are included in quotation marks. Any other sources used to support your responses should similarly be properly documented. You should have other credible sources in addition to the Codification and IFRS. For the ASC FASB Codification content, please reference asc.fasb.org.For the Authoritative IFRS standards content, please reference eifrs.ifrs.org.F F C B A 0 1 2 3 4 No Pass No Pass Competence Proficiency Mastery Not Submitted No explanation of the similarities between US GAAP and IFRS. Minimal explanation of the similarities between US GAAP and IFRS. Basic explanation of the similarities between US GAAP and IFRS. Clear explanation of the similarities between US GAAP and IFRS. Not Submitted No explanation of the differences between US GAAP and IFRS. Minimal explanation of the differences between US GAAP and IFRS. Basic explanation of the differences between US GAAP and IFRS. Clear explanation of the differences between US GAAP and IFRS. Not Submitted No explanation of the requirements for interim reporting under both GAAP and IFRS. Minimal explanation of the requirements for interim reporting under both GAAP and IFRS. Basic explanation of the requirements for interim reporting under both GAAP and IFRS. Clear explanation of the requirements for interim reporting under both GAAP and IFRS. Not Submitted No definition of problems or issues associated with interim reporting. Minimal definition of problems or issues associated with interim reporting. Basic definition of problems or issues associated with interim reporting. Clear definition of problems or issues associated with interim reporting. Not Submitted No definition of the advantages and disadvantages of providing segmented reporting given. Gives minimal definition of the advantages and disadvantages of providing segmented reporting. Gives basic definition of the advantages and disadvantages of providing segmented reporting. Clearly defines the advantages and disadvantages of providing segmented reporting. Not Submitted No definition of the requirements for segment reporting under both GAAP and IFRS given. Minimal definition of the requirements for segment reporting under both GAAP and IFRS given. Basic definition of the requirements for segment reporting under both GAAP and IFRS given. Clear definition of the requirements for segment reporting under both GAAP and IFRS given. Not Submitted No definition of what an operating segment is. Minimal definition of what an operating segment is. Basic definition of what an operating segment is. Clear definition of what an operating segment is.

Hey there, I need your help with the following assignment. Bellow, I have copied and pasted what the school is requesting. Please, provide a 2 page response, in APA, and with 2-3 references.7.5 - Assignment: Case Study - Employment LawThe SituationSally and I (the student) are in the process of opening an upscale restaurant. Suddenly, Sally calls you sounding pretty upset. You ask her what happened, "Did you lose a 'soufflé' today or something?" Not laughing, she starts to tell you she read that a disabled person was discriminated against by a franchise business because the official website does not have an accessibility policy. The disabled person sued and won. You state, "I guess that’s possible, accessibility is grounds under the ADA. But how in the world could a webpage not be accessible to the disabled? Or, how would it be accessible. How does that happen?" Sally replies, "I forgot one thing; the person suing was blind!" "It still doesn’t make sense to me," you state.You and Sally will need to look into this because your new business will have a webpage. You need to get ahead of this. See if you can find the case and break it down to make sure your website is compliant with the American with Disabilities Act.Your AssignmentView these two documents:Avoiding Pitfalls in Online Sales to Consumers (PDF) Dunkin Donuts Website Violates the Americans with Disabilities Act (PDF) Your ResponseAfter viewing the documents above, write a response to Sally. Your response should contain the following:The reasons why Dunkin Donuts was sued.The major pitfalls businesses face in having a website.Suggestions for making Sally's website compliant with the ADA. ________________________________________________________________________________________The course book is Business Law Today, 11th edition, Author: Miller, R. L. ISBN: 978-1305644526 (Hardcover) 978-1337222334 (eBook) (NOTE: Chapters for this week's assignment are: CH.23, CH.24, CH.25)In the assignment they also provide some supplementary documentation to aid in completing the assignment. I have attached those to this post.