What is Gaap vs IFRS?

Anonymous
timer Asked: May 4th, 2018

Question description

This is the first of three milestone assignments that will lead to completion of your course project. In this assignment, you will complete Critical Element III: GAAP vs. IFRS. Recall that, due to the sequencing of content for the modules, the critical elements are being prepared out of order. For the complete sequence, see the Final Project Guidelines and Rubric document. This milestone addresses the following course outcome:  Differentiate between the Generally Accepted Accounting Principles and the International Financial Reporting Standards for their impact on financial statements. If you have not already done so, select the company that you will use to build your portfolio. For detailed instructions, see the Final Project Guidelines and Rubric document. Specifically, the following critical elements must be addressed: III. GAAP vs. IFRS A. Explain the steps that would be needed for your selected portfolio company to transition from GAAP to IFRS. For example, what would this transition entail? What would your chosen company need to do? B. Explain how a financial statement would differ under IFRS as opposed to GAAP. i. How is a financial statement under IFRS different from GAAP? How is it the same? ii. What would the statements for your chosen company look like? Guidelines for Submission: Prepare your paper using Microsoft Word. It should be 2 to 3 pages in length, not including the cover page and reference page. Follow APA formatting guidelines using appropriate headings, double spacing, 12-point Times New Roman font, and one-inch margins. Support your arguments with at least three peer-reviewed sources cited in APA format

Tutor Answer

(Top Tutor) Studypool Tutor
School: UC Berkeley
Studypool has helped 1,244,100 students
flag Report DMCA
Similar Questions
Hot Questions
Related Tags

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