Reference no: EM131793922

Assignment

i. Describe the accounting differences between IFRS and US GAAP
ii. Indicate what sections of the financial statements would be affected:

• Balance Sheet: Current Assets, PPE, Other Assets, Current Liabilities, Long-term Liabilities or Stockholders' Equity
• Income Statement: Operating Income, EPS;
• Statement of Cash Flows: Operating Activities, Investing Activities or Financing Activities
• Inventory (choose 3 differences);
• Translation of subsidiaries in highly inflationary economies (choose 2 differences);
• Deferred income taxes (choose 2 differences);
• Intangible assets other than goodwill (choose 2 differences);
• Property, plant and equipment (choose 2 differences).