Difference to valuation by us gaap vs ifrs

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Reference no: EM1342612

Difference to valuation by US GAAP vs IFRS: Apple Philips
Is there a difference in approach to valuation by US GAAP and IFRS?

Show and note two specific differences. In addition, briefly

- Distinguish between an expense (expired cost) and an asset.

- Distinguish between current and long-term assets.

- Distinguish between current and long-term liabilities.

- Review Apple's balance sheet and provide two examples of each of the above categories.

- Discuss retained earnings and how income or loss and dividends affect this account. Review Apple's retained earnings account and explain how it changes between the two past years.

- Comment on at least three differences between Apple's and Philips' balance sheets.

- Does Apple or Philips have more debt?

- Which of the two companies is the bigger one? Explain your reasoning.

Write your response in total 1000 words +_

Reference no: EM1342612

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