Describe how Research and Developments Costs issue is handled under generally accepted accounting principles (GAAP) currently being used in the United States. Be sure to support your narrative with authoritative references using proper APA citation. (NOTE: The FASB Codification can be assessed either through the two(2) user license in the RIA Checkpoint database located on the Franklin library website or through your own personal license provided by the university's annual subscription through the American Accounting Association. Login information for your own license can be obtained from your professor.)
Describe how the handling of your assigned accounting issue would be different if the U.S. changes to an accounting system using International Financial Reporting Standards (IFRS). Once again, be sure to support your narrative with authoritative references using proper APA citation.
Analyze and evaluate the potential impact this change from U.S. GAAP to IFRS would have on U.S. companies. This includes both the impact on specific amounts in the financial statements, in addition to the impact on various stakeholders associated with a company (e.g., creditors, investors, suppliers, management, employees, etc.). (HINT: Do a bit of research to see what the experts are saying. And don't forget to properly cite your references). Note: Remember to put the paper in your own words except for properly cited references or quotes.
Requirements:
Write a 2 page paper single spaced 12 font and Prepare a 5 to 8 minute PowerPoint presentation summarizing your paper and a paper with more information to talk when presenting the presentation.