1000-1200 words only due by 5/3/14
Choose a company from the Securities and Exchange Commission (SEC) EDGAR Web site for your Key Assignment to evaluate for the impact of convergence to IFRS.
- Create an overview on IFRS.
- What will be some of the main concerns for your company as it moves from U.S. GAAP to IFRS?
- Generate a list of differences that you would expect to see on your income statement and your balance sheet after the convergence process is complete.
- Describe what impact the convergence will have on your company’s inventory account (IAS 2).
- Describe some of the differences between IFRS and U.S. GAAP regarding the accounting for financial instruments.
- Give a minimum of 2 examples of how your company will be impacted by the conversion process (IAS 32, IAS 39, and IFRS 7).
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