ACC 616 Convergence Financial Accounting Standards Memo
ACC 616 Convergence Financial Accounting Standards Memo
Please write a convergence memo (500-750 phrases) to the consumer discussing the present state of convergence between IFRS and U.S. GAAP on income recognition. It’s possible you’ll use the “Memo Template” supplied. In your memo, be sure you tackle the next:
Find lately accomplished convergence tasks. Utilizing one of many current tasks accomplished, describe the similarities and variations in accounting underneath the worldwide requirements and the FASB requirements.
Focus on how the brand new commonplace will impression firms who use GAAP.
Utilizing WALMART for instance, evaluate the notes to the monetary statements to find out if these requirements have been adopted by that firm and integrated within the monetary studies. If that’s the case, talk about any impression the corporate signifies is a direct results of conformity with the brand new commonplace.
Please combine at the least two tutorial sources, along with the AICPA web site and the IFRS web site, in your dialogue.
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