What are the principle differences between ifrs and us gaap

Assignment Help Other Subject

Reference no: EM132678318

Assignment: Instructions: To read the case study below, click the provided link.

Read the case study indicated below, and answer the following questions:

James, M. L. (2010). Accounting for business combinations and the convergence of International Financial Reporting Standards with U.S. Generally Accepted Accounting Principles: A case study. Journal of the International Academy for Case Studies, 16(1), 95-108.

1. What key financial ratios will be affected by the adoption of FAS 141R and FAS 160? What will be the likely effect?

2. Could any of the recent and forthcoming changes affect the company's acquisition strategies and potentially its growth?

3. What were FASB's primary reasons for issuing FAS 141R and FAS 160?

4. What are qualifying SPEs? Do they exist under IFRS? What is the effect of FAS 166 eliminating the concept of qualifying SPEs on the convergence of accounting standards?

5. If the company adopts IFRS, what changes should management be aware of?

6. What are the principle differences between IFRS and U.S. GAAP?

Your submission should be a minimum of three pages in length in APA style; however, a title page, a running head, and an abstract are not required. Be sure to cite and reference all quoted or paraphrased material appropriately in APA style.

Reference no: EM132678318

Questions Cloud

Fourth amendment and police authority to perform searches : Research a court case that involves the Fourth Amendment and the police authority to perform searches.

At what value should the land be recorded : On December 4, a national retail chain offered Gallatin Repair Service $525,000 for the land. At what value should the land be recorded

Majority of jurisdictions in this country relied : Until very recently the majority of jurisdictions in this country relied upon indeterminate sentencing, rather than structured sentencing.

Policy initiative for controlling criminal behavior : When Richard Allen Davis sexually molested and murdered 12-year-old Polly Klass, Do such laws provide useful policy initiative for controlling criminal behavior

What are the principle differences between ifrs and us gaap : What key financial ratios will be affected by the adoption of FAS 141R and FAS 160? What will be the likely effect? What are the principle differences between.

Types of facilities found in correctional systems : List the 3 main types of facilities found in correctional systems throughout the United States. What was the Percy Amendment?

Write articles for mcclure magazine : The first written assignment of the semester asks you to imagine that you are a former muckraker, who used to write articles for McClure's Magazine.

Courtroom become frustrated with victims of crime : Why do some members of the courtroom become frustrated with victims of crime

Police agencies take in order to be successful in era : What approach must police agencies take in order to be successful in this era?

User Account

All Pages