Describe why accounting rules differ from country to country

Assignment Help Accounting Basics
Reference no: EM1378690

Review the convergence of United States Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
Describe why accounting rules differ from country to country?
Discuss the advantages of a single set of financial statements worldwide. Are there any disadvantages, particularly to the U.S.?
Identify and explain some of the key differences between U.S. GAAP and IFRS standards.
Offer an opinion on whether you personally feel convergence with IFRS is a good idea for the U.S. Support your opinion.

Reference no: EM1378690

Questions Cloud

Dilemma in an ethical manner : Your colleague is infatuated with a woman whom you know to be promiscuous. Since this colleague is also a close friend, you are concerned about his/her welfare.
Compute the npv and irr : Compute the NPV and IRR for each of the two projects. Assume that the discount rate is 10%. Which project would you select and why?
Question about philosophy of life : Why are we here? What is my purpose to be here? Am I supposed to be doing something great with my life? For thousands of years, men and women have pondered these and similar questions.
Prepare a statement of cash flows for warnick : Prepare a statement of cash flows for Warnick Co. for the year ended May 31, Year2. Use the indirect method.
Describe why accounting rules differ from country to country : Review the convergence of United States Generally Accepted Accounting Principles and International Financial Reporting Standards.
Find the stakeholders in this situation : Assume you have just been named Chief Executive Officer of a small chemical refinery in the Northeast. Shortly after you suppose your new position,
Estimating the expectation : expectation of the statistic that was proposed by Statistician - Based on the information collected in Tasks 1-8, which of the two statistics produces values which tends to be more concentrated about the expectation of the measurement?
Define unethical business behavior : Discuss what role did organization play relative to fomenting the behavior identified and the idea is to define unethical business behavior in a given condition.
Explain the concept of worldview : With the help of Theism worldview, the learner is to discuss the idea of worldview and its application to business.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd