Reference no: EM131967321

Guideline for your individual research paper

1. You may select a topic from your readings in your textbook that were covered in Modules 1-4. You could also select one or two topics on differences between GAAP and IFRS where the main categories are: Definition differences, Recognition differences, Measurement differences, Presentation differences, Disclosure differences, Alternatives, Lack of requirements or guidance (pages from chapter four of International Accounting textbook will be uploaded for you). You may look under the uploaded files titled ‘pages from global insights' and ‘selected topics for GAAP/IFRS differences'. Select a topic that you are really interested in. The cases that I have selected may also offer you suggestions.

2. Suggested sections for your paper:
a. Introduction and objective
b. Background information
c. Impact from a user perspective (this means that you discuss why a manager or an analyst need to understand the diverse rules/regulations and/or may have to convert some of the information to compare apples with apples). One example is current cost accounting. Another example is with inventory costing. A disclosure example is with contingencies such as we discussed for BP plc.
d. Comparison of financial statements between a US company and an international company in relation to your topic.
e. Conclusion on your opinion on harmonization or convergence.

3. Remember, I am only looking for a short research paper (six pages of text) with at least three references. Look at the syllabus for some of these references. Provide a separate page for bibliography. Follow APA style for your paper.

4. This is a survey type of a research paper. Please make sure to submit on Canvas under assignments

Research paper Outline

PART 1 -- Introduction and objective
The objective is to explore how accountants deal with currency exchange rate changes.

PART 2 -- Background information
As companies become more dependent on global trade, there has been an increasing need for accountants to record transactions in various currencies. Therefore, it is important to explore in detail the procedures and methods that accountants use today to help accommodate global accounting needs.

PART 3 -- Impact from a user perspective
Users need to be aware of the different regulations and guidelines while accounting for differences in currency exchanges

PART 4 -- Comparison of financial statements between a US company and an international company in relation to your topic
This will be researched and attached.

PART 5 -- Conclusion on your opinion on harmonization or convergence
Harmonization and convergence are beneficial for the accounting world because it allows for uniformity in accounting methods and reduces the risks of people playing around with accounting numbers.

Chapter - Accounting for Currency Exchange Rate Changes