ACC 570 Week 8 Assignment 4 – Strayer NEW
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Assignment 4: IFRS and GAAP Convergence
Due
Week 8 and worth 200 points
Perform
additional research on the same U.S.-based multinational corporation from
Assignment 3.
Write
a six to eight (6-8) page paper in which you:
- Briefly
describe the corporation you researched (in one (1) short paragraph).
- Given
the SEC’s current position on requiring U.S. publically traded companies
to report using the IFRS method of accounting, discuss whether or not it
would be beneficial or punitive to the company when adopting IFRS. Explain
your rationale.
- Determine
the differences that would occur (or have occurred) by using IFRS for the
income statement, balance sheet, and statement of cash flows, and how these
differences may attract investors to the company.
- Compare
and contrast the differences in the financial statements, and the
advantages and disadvantages of using IFRS versus GAAP reporting.
- Make
recommendations as to whether the company you researched should use IFRS
or GAAP as its reporting standard. Explain your rationale.
- Include
three (3) external peer-reviewed sources to support your position.
Your
assignment must follow these formatting requirements:
- Be typed,
double spaced, using Times New Roman font (size 12), with one-inch margins
on all sides; references must follow APA or school-specific format. Check
with your professor for any additional instructions.
- Include a
cover page containing the title of the assignment, the student’s name, the
professor’s name, the course title, and the date. The cover page and the
reference page are not included in the required page length.
The
specific course learning outcomes associated with this assignment are:
- Describe
the institutional influences on accounting rules and practices
- Analyze the
nature and scope of international accounting rules and practices.
- Evaluate
the role of the International Accounting Standards Board and its effects
on the practice of accounting.
- Assess the
accounting systems in select countries.
- Use
technology and information resources to research issues in international
accounting systems.
- Write
clearly and concisely about international accounting systems using proper
writing mechanics.
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