Identify a multinational company from the securities

Reference no: EM131455413

Key Assignment Description

You will identify a multinational company from Securities and Exchange Commission (SEC) EDGAR Web site that has inventory in their books. Prepare and present the company's financial statements under IFRS. Complete the Impact Analysis chart based upon your findings in each unit for the subject company. Click here to download the Impact Analysis (IA) chart you will use.

Create an analysis that will outline how the transition from the current US Generally Accepted Accounting Principles (GAAP) to the new Revenue Recognition pronouncement will impact the company you selected.

The following pronouncements should be considered in your final analysis:

• IFRS 1: First-time Adoption of International Financial Reporting Standards
• IFRS 9: Financial Instruments
• IFRS 13:Fair Value Measurement
• IFRS 15:Revenue from Contracts with Customers
• IAS 1:Presentation of Financial Statements
• IAS 2: Inventory Accounting
• IAS 7: Statement of Cash Flow
• IAS 10: Events After the Reporting Period
• IAS 12: Income Taxes
• IAS 16: Property, Plant and Equipment

Throughout this course you will be updating the IA chart provided, noting specific changes you are making to the financial statement.

This Week's Assignment Details:

Library Research Assignment:

Part 1: Identify a multinational company from the Securities and Exchange Commission (SEC) EDGAR Web site that has inventory in their books. This will be the subject of your final analysis.

• Share a general overview of the company you selected.

o Describe the company.
o What products and services do they offer?
o Industry Trends

• Provide an explanation for why you selected this company.

Part 2: Use what you know about the history of IFRS to discuss the following:

• Looking back at the development of International Financial Reporting Standards (IFRS) and the convergence roadmap, discuss whether or not this is a step towards convergence.

• Consider the debate between principle-based versus rule-based pronouncement. Discuss whether or not the FASB is moving away from principle-based and rule-based pronouncement to a typical principle-based concept like the IASB. Support your opinion.

Reference no: EM131455413

Questions Cloud

Identify a suppliers for one component of a dirt bike : A growing number of Dirt Bikes orders cannot be fulfilled on time because of delays in obtaining some important components and parts for its motorcycles.

What is the likely outcome : Bloom was hired to perform clerical work for Group Health Incorporated Office and Professional Employees International Union Local 12.

Developing a program to increase the physical levels : Stage Theory of Organizational Change may suggest that college students aren't active because there is a problem definition, or awareness.

Illustrate the ststement according to requirement : After a bitter strike and boycott that included the use of "scabs" to replace workers in the walnut industry and strike-related violence, a returning worker.

Identify a multinational company from the securities : Identify a multinational company from the Securities and Exchange Commission (SEC) EDGAR Web site that has inventory in their books.

Discuss the various available solutions : discuss the benefits and limitations of the available solutions, and provide a new solution and justification.

Sweatshops to leadership in employment practices : Read the "Nike: From Sweatshops to Leadership in Employment Practices" case. You are to write a four to six (4-6) page paper that answers the following question

Review the case of french v. united parcel service : French began employment with UPS in March 1984. During the next 14 years, he rose through the ranks to become Business Manager of a UPS facility.

Compare recently complet project to old accounting standard : compare one recently completed project to the old accounting standard, and predict the fundamental way in which new standard will improve financial reporting.

User Account

All Pages