Is there a difference in approach to valuation by us gaap

Reference no: EM13590774

The main purpose of this module is to review the balance sheet in more detail.
Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three 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.

Reference no: EM13590774

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