How transfer pricing can be used successfully by

Question

The main focus of this course is to understand rules in International Accounting. One such focus is to understand the major differences in US GAAP and IFRS (International Financial Reporting Standards). The portfolio project is divided into two parts; provide detailed responses to both parts of the project.

Part I

Provide a detailed history of the convergence project between US GAAP and IFRS.

Discuss in detail the major differences between US GAAP and IFRS applications.

Provide a list of countries that have adopted IFRS and how cultural differences can impact interpretation of IFRS.

Part II

Explain Transfer Pricing in detail.

Provide a detailed example of how Transfer Pricing can be used successfully by Multinational Corporations.

Please discuss in detail various methods of translating foreign currency financial statements.

For each of the two parts, discuss and cite at least two credible outside sources other than the assigned textbook.

Your paper should be 8-10 pages in length, well written, and formatted in conformity with APA Style. MUST INCLUDE A REFERENCE PAGE with links.

Answer 1

As the following assignment is separated into parts that demonstrate to rules in International Accounting The major focus of this course is to comprehend rules in International Accounting. One these focuses is to comprehend the main dissimilarities in US GAAP and IFRS (International Financial Reporting Standards). The portfolio project is separated into 2 parts; give detailed responses to both parts of the project. Part I • Give a detailed history of the convergence project between US GAAP and IFRS. • Converse in detail the main dissimilarities between US GAAP and IFRS applications. • Give a list of countries that have adopted IFRS and how cultural differences can impact interpretation of IFRS. Part II • Describe Transfer Pricing in detail. • Give a detailed instance of how Transfer Pricing can be utilized successfully via Multinational Corporations.