Assignment: IFRS Financial Reporting and Accounting Principles
The company for which you work has established international satellites over the past 5 years. Its top management has been considering how to approach the accounting requirements to optimize the attractiveness of the company to future investors. It is your job to determine the accounting system that will potentially attract the most investors.
Write a four to five page paper in which you:
1. Analyze three key differences in GAAP and IFRS financial statement presentation and suggest how convergence can improve presentation.
2. Evaluate the reporting requirements for comprehensive income under GAAP and IFRS and the effect of reporting requirements on clarity for financial reporting.
3. Distinguish between the treatment of inventory valuation for IFRS and GAAP and speculate the potential impact on U.S. corporations.
4. Use at least three quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.