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DISCUSSION BOARD:
U.S. GAAP vs. IFRS
A current hot topic in accounting is the potential change from U.S. GAAP to IFRS. There is much discussion on the topic and one that is worthy of investigation. Please conduct a thorough research inquiry on IFRS and the proposed changes this will present. Please take a position on whether these changes will be positive, or negative, and provide support as to why you made your choice.
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Describe a situation where managers would benefit from using variable costing instead of absorption costing. What specific benefits would the managers realize?
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