Differences between the way gaap and ifrs operate

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Currently, the United States is working towards a convergence with International Financial Reporting Standards (IFRS). There are certain similarities and differences between the way GAAP and IFRS operate. The purpose of this assignment is for you to write, using APA style, about several matters pertaining to IFRS. Specifically, these items should include:

1. The nature of IFRS and how accounting policies are promulgated.

2. Then, for one topic (see below) presented in this course, please describe at least two differences and similarities.

3. Format : Papers should be typed and submitted on 8 ½ x 11 paper, single-sided, with 12 point Times New Roman font. Papers must be a minimum of three full pages. Format will count towards the grade, so be sure to proof your paper at least once!

4. Plagiarism - Under no circumstances may a student use an author's words without proper citation. To do so is considered plagiarism and will result in an automatic failure for the paper being submitted. If you wish to use an exact phrase from the casebook or any outside reference, please use proper citation when doing so.

Reference no: EM13340559

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