Assignment
Read the case study attached, and answer the following questions:
James, M. L. (2010). Accounting for business combinations and the convergence of International Financial Reporting Standards with U.S. Generally Accepted Accounting Principles: A case study. Journal of the International Academy for Case Studies, 16(1), 95-108.
o What key financial ratios will be affected by the adoption of FAS 141R and FAS 160? What will be the likely effect?
o Could any of the recent and forthcoming changes affect the company's acquisition strategies and potentially its growth?
o What were FASB's primary reasons for issuing FAS 141R and FAS 160?
o What are qualifying SPEs? Do they exist under IFRS? What is the effect of FAS 166 eliminating the concept of qualifying SPEs on the convergence of accounting standards?
o If the company adopts IFRS, what changes should management be aware of?
o What are the principle differences between IFRS and U.S. GAAP?
Format your assignment according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.