Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition
Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition
1st Edition
ISBN: 9780134047430
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
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Chapter 3, Problem 3.5Q
To determine

Whether U.S. GAAP require that companies disclose their accounting policies.

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Please explain and analyze the effect of major differences between IFRS and U.S. GAAP related to the financial reporting of a specific category of account (e.g. current liabilities, provisions, employee benefits, share-based payment, income taxes, revenue, financial instruments, leases).
What are the differences between International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP)? Do they have the similarities? Why?
"How do the principles of revenue recognition under the International Financial Reporting Standards (IFRS) impact the timing and amount of revenue recorded in a company's financial statements?"
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