Is there difference in approach to evaluation by US GAAP and IFRS?
Describe and note two specific differences. In addition
- Write down the difference between the expense (expired cost) and asset.
- Write down the difference between current and long-term assets.
- Write down the difference between current and long-term liabilities.
- Review Apple's balance sheet and give two examples of each of the above categories.
- Describe retained earnings and how income or loss and dividends affect this account. Review Apple's retained earnings account and describe how it changes between two past years.
- Comment on at least three differences between Apple's and Philips' balance sheets.
- Does Apple or Philips have more debt?
- Which of two companies is the bigger one? Describe your reasoning.