Solution-Evaluate two major differences between gaap and

Evaluate two major differences between gaap and ifrs

Assignment Help Accounting Basics

Reference no: EM131755670

Evaluate two (2) major differences between GAAP and IFRS with respect to the statement of cash flows. Give your opinion on which method you prefer. Provide a rationale for your response.

Imagine you are the senior accountant at your organization and management is unsure of the difference between the indirect method and the direct method of preparing a statement of cash flows. Outline a brief memo to management differentiating between the direct method and indirect method. Advise management on which method the company should use to prepare the statement of cash flows. Provide at least two (2) specific examples on why the method you selected would be beneficial to the company.

Reference no: EM131755670

Questions Cloud

Identify the impact of lifo versus fifo : Explain why this amount is referred to as phantom profit. The company uses the periodic method. Identify the impact of LIFO versus FIFO.

Discuss manual company sells goods to nolan company : Manual Company sells goods to Nolan Company during 2017. It offers Nolan the following rebates based on total sales to Nolan

What constraints on exercise of management power : What power will the manager be subject to control by either of the parties? What constraints on exercise of management power?

Prepare a schedule for bebe : Bebe Jackson is a successful, 30-year old attorney, social security no. 255-10-0000. She has a law office on Smith Court, but also has an office in her home.

Evaluate two major differences between gaap and ifrs : Evaluate two (2) major differences between GAAP and IFRS with respect to the statement of cash flows

Which method should be used-POQ or EOQ : Wicomico 3DeLight makes 3D printers for entrepreneurs. Which method should be used: POQ or EOQ, and please show work.

What was the main difference between the two : Discuss with your classmates one thing that the best manager did, and one thing that the worst manager did. What was the main difference between the two?

Prepare the journal entries for cosmo related : Prepare the journal entries for Cosmo related to this contract. Either party may terminate the contract without compensation until one of the parties perform

Robin hood and his band of merry men : It was in the spring of the second year of his insurrection against the High Sherriff of Nottingham that Robin Hood took a walk in Sherwood Forest.

User Account

All Pages

Evaluate two major differences between gaap and ifrs

Reference no: EM131755670

Reference no: EM131755670

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT