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Describe the methods of revenue recognition

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Reference no: EM13343437

Your supervisor at YOUCPA wants to know what you think about the proposed change from GAAP to IFRS in the United States and how it will impact revenue recognition.

  • Describe the methods of revenue recognition under each of the following:
    • U.S. GAAP
    • IFRS
  • Describe 1-2 ways in which these 2 methods differ.
  • Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not?

Reference no: EM13343437

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