BUS 650 Week 3 DQ 1 GAAP vs. IFRS

BUS 650 Week 3 DQ 1 GAAP vs. IFRS

BUS 650 Week 3 DQ 1 GAAP vs. IFRS

purchase

http://allmysolution.com/BUS-650-Ash_c164.htm


Product Description

The United States uses Generally Accepted Accounting Principles (GAAP) as the basis of financial reporting. The International Financial Accounting Standards (IFRS) is an alternative way to report financials. This article from Ernst and Young compares the two methods of financial reporting.

Ernst & Young’s US GAAP vs. IFRS: The Basics http://www.ey.com/Publication/vwLUAssets/US_GAAP_v_IFRS:_The_Basics/$FILE/US%20GAAP%20v%20IFRS%20Dec%202011.pdf

After reading the article from Ernst and Young, answer the following questions:

How does the GAAP reporting method cause cash flows to differ from net income?

How are the features of the Income Statement, Balance Sheet, and Statement of Cash Flow utilized in both the GAAP and the IFRS reporting methods?

Does it make sense to adapt a worldwide standard for financial reporting? Should this be mandated or voluntary?

Calculate some of the potential costs and benefits of switching from GAAP to IFRS.


purchase

http://allmysolution.com/BUS-650-Ash_c164.htm


Product Description

Companies often try to keep accounting earnings growing at a relatively steady pace in an effort to avoid large swings in earnings from period to period. They also try to manage earnings targets. Reflect on these practices and discuss the following in your discussion post.

Are these practices ethical?

What are two tactics that a financial manager can use to manage earnings?

What are the implications for cash flow and shareholder wealth?

Using the financial balance sheet as displayed in the text, provide an example of how purchasing an asset or issuing stocks or bonds could potentially impact earnings targets.
BUS 650 Week 3 DQ 1 GAAP vs. IFRS

purchase

http://allmysolution.com/BUS-650-Ash_c164.htm


Product Description

The United States uses Generally Accepted Accounting Principles...

Similar Essays