Reference no: EM13990673
Write a 700- to 1,050-word summary of the team's discussion about IFRS versus GAAP, based on your team collaborative discussions. The summary should be structured in a subject-by-subject format. An introduction and a conclusion are needed. Your essay should include the answers to the following:
IFRS 8-1: What are some steps taken by both the FASB and IASB to move to fair value measurement for financial instruments?
In what ways have some of the approaches differed?
IFRS 9-1: What is component depreciation, and when must it be used?
IFRS 9-2: What is revaluation of plant assets? When should revaluation be applied?
IFRS 9-3: Some product development expenditures are recorded as development expenses and others as development costs. Explain the difference between these accounts and how a company decides which classification is appropriate.
IFRS 10-2: Explain how IFRS defines a contingent liability and provide an example.
IFRS10-3: Briefly describe some similarities and differences between GAAP and IFRS with respect to the accounting for liabilities.
|
What is the total purchase price of the coat
: Kris bought a new fur coat for $8,000. She must pay 5% sales tax and 7% excise tax. The furrier is shipping the coat, so Kris must also pay a $15 insurance charge. What is the total purchase price of the coat
|
|
What is an acid and how does it affect a chemical reaction
: what is an acid and how does it affect a chemical reaction?
|
|
What was the work done by the hiker
: A 50 kg hiker starts at an elevation of 2500 meters and climbs to the tope of a 3500 meter mountain in 4 hours. A. What was the work done by the hiker?
|
|
The data table below summarizes the abundances
: The data table below summarizes the abundances of the major elements of the human body Which of the following is another way to express the abundance of sodium? Note: ppt = parts per thousand, ppm = parts per million, ppb = parts per billion
|
|
What is revaluation of plant assets
: Briefly describe some similarities and differences between GAAP and IFRS with respect to the accounting for liabilities.
|
|
Unbiased estimator of the variance
: Show that it is an unbiased estimator of the variance of X1 but that its variance is larger than that of s2, at least when the i.i.d. Xi have a normal distribution. Hint: If X has a standard normal N (0, 1) distribution, then EX 3 = 0 and EX 4 = 3..
|
|
What are the total finance charges
: With a mortgage of $48,000 for 15 years with a rate of 11%, what are the total finance charges
|
|
A conical flask containing wet iron powder in excess
: A syringe is filled with 139-mL of air and then connected to a conical flask containing wet iron powder in excess. When the reaction ceases, the volume of the gas in the syringe is 112-mL. What is the volume percent content of oxygen of the air sampl..
|