Solved: Gaap to ifrs in the united states, Accounting Basics

Gaap to ifrs in the united states

Your supervisor at YOUCPA wants to know what you think about the proposed change from GAAP to IFRS in the United States and how it will impact revenue recognition.

• Describe the methods of revenue recognition under each of the following:

o U.S. GAAP

o IFRS

• Describe 1-2 ways in which these 2 methods differ.

• Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not?

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Accounting Basics: Gaap to ifrs in the united states

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Gaap to ifrs in the united states

Reference No:- TGS0687807

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Different elements of the system

Q : Setting up a series of subsidiary ledgers

Q : Calculate ratios of current assets and current liabilities

Q : Calculate the calories

Q : Gaap to ifrs in the united states

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Q : Determine the power of the primary outcome measure

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Q : Why increase in fixed operating expenses

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Gaap to ifrs in the united states

Reference No:- TGS0687807

Recent Questions Asked Accounting Basics

Q : Different elements of the system

Q : Setting up a series of subsidiary ledgers

Q : Calculate ratios of current assets and current liabilities

Q : Calculate the calories

Q : Gaap to ifrs in the united states

Q : Ps-sample size program

Q : Determine the power of the primary outcome measure

Q : Pros-cons of continuing nursing education

Q : Why increase in fixed operating expenses

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