Write 5 pages essay on ifrs and gaap convergence in

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Reference no: EM13454069

Write 5 pages essay on IFRS and GAAP Convergence in which:

1. Describe what accounting convergence means and assess the likelihood of the convergence being completed and implemented in the next five (5) years.

2. Evaluate and describe the single most important difference between U.S. GAAP and IFRS rules, and explain your answer.

3. Analyze and summarize the main obstacles to convergence from both the U.S. and European accounting perspectives.

4. Analyze the balance sheet and income statement presentation methods that will be impacted the most by convergence, and explain why.

5. Evaluate and explain what types of business entities and accounting practices will be affected the most by convergence.

6. Use at least three (3) qualify academic resources in this assignment.

Reference no: EM13454069

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