Posted: January 17th, 2023

Question 1. We learned about the differences between IFRS and US GAAP. Using BOT

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Question 1. We learned about the differences between IFRS and US GAAP. Using BOTH the FASB codification and the IFRS standards research these differences.
Pick one of the topics (inventory, PPE, developmental costs, impairment losses etc.)
-Tell us how you would handle the accounting if you were choosing the methodology to use.
-Tell us your reasoning and use the standards to support your position.
Show your source in APA format.
Use the web address www.ifrs.org to access the website. Use the ‘search this site’ at the top of the page to look for the IAS you need to access.
Question 2. We have discussed many differences between U.S. GAAP and IFRS related to the recognition and measurement of assets. Among these differences, which two do you feel are the most difficult to reconcile and why? Be specific in your answer and provide examples.

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