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While the world is getting globalized, so is Accounting.
In this context, I want to initiate a discussion here about this aspect of Accounting.
What is meant by IFRS? What is the convergence project? What are some differences between IFRS and GAAP. Cite a specific area and clearly show how this area of accounting is different.
What are your thoughts about the harmonization of global accounting standards? Pros and cons? You don't have to answer every question. You can pick and choose to answer one or more.
Your submission must be at least 500 words excluding citations. Please indicate your word count at the start of your submission.
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From this and earlier chapters, explain how financial reporting profit can differ from taxable income, and how this varies internationally.
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Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties and special events. Prepare journal entries for the following events relating to the year ended December 31. If the event is not a transaction, write no..
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