a-closer-look-at-financial-assets-and-liabilities

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Deliverable length 1000–1200 words

  • 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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