Demonstrate an awareness of the audit requirements

Assignment Help Accounting Basics

Reference no: EM132789040 , Length: Word count:-750

Write a convergence memo (500-750 words) to the client discussing the current state of convergence between IFRS and U.S. GAAP on revenue recognition. You may use the "Memo Template" provided. In your memo, be sure to address the following:

Question 1: Locate recently completed convergence projects. Using one of the recent projects completed, describe the similarities and differences in accounting under the international standards and the FASB standards.

Question 2: Discuss how the new standard will impact companies who use GAAP.

Question 3: Using the ARP company you chose in Topic 1, review the notes to the financial statements to determine if these standards have been adopted by that company and incorporated in the financial reports. If so, discuss any impact the company indicates is a direct result of conformity with the new standard.
You must integrate at least two academic sources, in addition to the AICPA website and the IFRS website, in your discussion.

While APA style is not required for the body of this assignment, solid academic writing is expected, any documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

This benchmark assignment assesses the following programmatic competencies:

MS Accounting

Question 4: Demonstrate an awareness of the audit requirements under U.S. auditing standards.

Question 5: Demonstrate an awareness of the differences between ISAs and U.S. auditing standards.

Reference no: EM132789040

Questions Cloud

Calculate the terminal value : Calculate the terminal value of the 401(k) plan for Option 1, assuming all returns and contributions remain constant over the 15 years

Steps in a robust supply management process : Where in the supply process is there the greatest opportunity to add valueand why?

Differentiate between the static budgets and flexible budget : Provide support for your business selection and include the advantage for using a flexible budget over a static budget. Differentiate between 2 types of budget

Empowering leadership quality : Make a recommendation for the topic Empowering Leadership Quality as a Necessary part of an organization's growth and productivity

Demonstrate an awareness of the audit requirements : Using one of the recent projects completed, describe the similarities and differences in accounting under the international standards and the FASB standards.

Discuss the cultural differences between the three countries : Discuss the cultural differences between the three countries involved. Analyze how well your personal leadership style developed

What is disruptive innovation : What Is Disruptive Innovation? Harvard Business Review. Retrieved from https://hbr.org/2015/12/what-is-disruptive-innovation

Which amount you would use as the cost of the car : The company has deducted maximum CCA. Which amount you would use as the cost of the car to calculate operating expense benefit

What is workplace diversity : 1. What is workplace diversity? 2. Why is diversity important to business?

User Account

All Pages