Remaining parts of Project
Step 1: Identify three (3) dissimilar major principles and assumptions in Accounting Theory and Practices between FASB and IASB.
Step 2: Select two companies to analyze - one currently using FASB and the other currently using IASB. The companies should be from the same global Sector and have a comparable financial footprint. From there, contrast the financial information knowing that this is not "apples to apples". 3 to 5 pages.
Step 3: Select one dissimilarity (chosen in Step 2) and using your own factor, restate the numbers to see how a new comparison would now look. (i.e. restate both so they are more "apples to apples".) The accuracy of the restated numbers in this step will not be the focus, but rather the process to restate and the analysis performed. 3 to 5 pages.
Step 4: Conclude with a thorough discussion on what you learned. 1 to 2 pages.