Acc 304 Week 8 Assignment 1 - Ifrs And Gaap Convergence

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ACC 304 WeeK 8 Assignment 1 - IFRS and GAAP Convergence
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ACC 304 WK 8 Assignment 1 - IFRS and GAAP Convergence

Events in the world of corporate finance during the past few years have shown the importance of
transparent and accurate financial reporting by businesses. There are numerous methods for evaluating
the financial well-being of a business. In this paper, you will review and evaluate the financial analysis

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ACC 304 WeeK 8 Assignment 1 - IFRS and GAAP Convergence

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tools available to business manager, investors, and government regulators.
Write a five to six (5-6) page paper in which you:
1. Describe what accounting convergence means and assess the likelihood of the convergence
being completed and implemented in the next five (5) years.
2. Evaluate and describe the single most important difference between U.S. GAAP and IFRS rules,

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ACC 304 WeeK 8 Assignment 1 - IFRS and GAAP Convergence

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and explain your answer.
3. Analyze and summarize the main obstacles to convergence from both the U. S. and European
accounting perspectives.