why would it be advantageous for us gaap and ifrs to be the same

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ekkarill92 answered 1 year ago

The world would be simpler if the US Tax Code and US GAAP were the same,...

The world would be simpler if the US Tax Code and US GAAP were the same, and thus two sets of books would not be needed. Discuss the reasons they are not and whether or not you think it necessary for the present system to remain as it is

Compare the IFRS to the US GAAP. What is the current situation regarding the IFRS?

Describe three benefits for every country using the same GAAP; that is, IFRS? Explain why a...

Describe three benefits for every country using the same GAAP; that is, IFRS? Explain why a country would not want to adopt IFRS? Explain the main sources of finance for international trade and investment. Distinguish between short-term and long-term finance sources.

US GAAP vs IFRS Express your opinion on the the issue of whether the US should...

US GAAP vs IFRS Express your opinion on the the issue of whether the US should adopt IFRS and supporty your opinion with reasons and pros and cons of adoption. If you like, please read the first two sections of "IFRS 2018 Interpretation and application of International financial reporting standards" in order to answer the question. Thank you

Explain the difference between IFRS and US GAAP in terms of inventory management..

The classification of preferred stock is always identical under US GAAP and IFRS.

why is it important to consider the differences in IFRS and GAAP in general

GAAP is the accounting standard used in the US, while IFRS is the accounting standard used...

GAAP is the accounting standard used in the US, while IFRS is the accounting standard used in over 110 countries around the world. GAAP is considered more rules based and IFRS is more principles based. Which standard do you feel is best suited for the US and if the SEC decides to switch over to IFRS how will that affect US companies?

Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues:...

Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues: • Treatment of Inventory and Valuation methods • Treatment of Inventory write-down and Asset Impairment and revaluation • Treatment and determination of costs of Property, Plant, and Equipment • Treatment of Investment Properties • Treatment of Research and development costs • Treatment of Intangible Assets • Treatment of Assets’ Impairment Loss • Treatment of costs of borrowing to purchase or construct assets • Treatment...

State how derivatives and changes in their values are reported under US GAAP and IFRS.

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