Write a three to four (3-4) page paper in which you:
Assess the importance of converting from GAAP to IFRS from a company’s perspective. Propose three (3) benefits U.S. corporations will obtain by converting from GAAP to IFRS. 2.
Identify four (4) financial reporting differences between U.S. GAAP and IFRS. For each financial reporting difference, take a position on which method would be most beneficial to financial statement users. 3.
Predict three (3) possible problems that U.S. corporations may encounter when converting their financial statements to IFRS. Recommend three (3) techniques that will enable a corporation to overcome those obstacles. 4.
Assess two to four (2-4) long-term conversion issues on accounting for leases by the lessees. Create an argument to support the FASB position on accounting for leases. 5.
Create an argument for or against U.S. companies using IFRS accounting exclusively. Provide support for your argument. 6.
Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. •
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are: •
Examine the similarities and differences between U.S. GAAP and IFRS, and the related requirements for accounting in the international marketplace. •
Use technology and information resources to research issues in advanced accounting. •
Write clearly and concisely about advanced...
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