Assignment:
Q1. U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) are converging. Since this is the case, why would a manager need to understand the historical differences between these standards?
Q2. Discuss the differences between the current, temporal, and inflationadjusted current methods for translating the financial statements of acquisitions or divisions located in moderately inflationary and hyperinflationary economic environments.
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.