IFRS vs GAAP, Acc 291 assignment help

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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

(Team C – Discussions) – http://www.ifrs.org/Documents/IAS16.pdf, http://www.bsd-cpa.com/index.php/comparing-and-contrasting-international-financial-reporting-standards-ifrs-and-generally-accepted-accounting-principles-gaap, http://ec.europa.eu/internal_market/accounting/docs/consolidated/ias37_en.pdf

  • 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

    Format your essay consistent with APA guidelines.

    Use the Financial Accounting text and at least
    two additional scholarly-reviewed references.

    I need back March 5, 2016.


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