Application: IFRS vs. U.S. GAAP
1.In this week's Discussion, you studied revenue recognition standards and related accounting issues for companies operating in international markets. Due to the scope of international markets and the differences in IFRS and U.S. GAAP accounting standards, accountants are also challenged with issues related to provisions, contingent liabilities and assets, employee benefits, and share-based payments.
For this Assignment, select two of the following topics: Provisions, Contingent Liabilities, and Contingent Assets (IAS 37); Employee Benefits (IAS 19); and Share-Based Payment (IFRS 2). Consider the accounting standards related to your selected topics. Think about the major differences between IFRS and U.S. GAAP financial reporting requirements for the recognition and measurement of your topics, as well as the impact of these reporting differences on multinational companies.
I will write a 2- to 3-page paper differentiating between IFRS and U.S. GAAP financial reporting requirements for the recognition and measurement of your selected topics. Evaluate the impact of the reporting differences of your topics on multinational companies.
2.Final Project: Project Charter
The project charter is one of the more important project documents. It authorizes the project, provides the purpose and justification for the project, and provides the criteria to judge project success.
For this assignment, read the St. Dismas Assisted Living Facility case study on pages 111-112 of the Mantel text, as well as Chapter 3, pages 79-83. Create a project charter. Your project charter must be at least two pages, double-spaced, and include:
?A statement about the purpose and justification for the project
?A high-level description of the project requirements
?A list of the primary project objectives and how success in meeting the objectives will be measured
?Assumptions and constraints
?Major project milestones
?High-level/preliminary budget estimate
?Key stakeholder analysis matrix including communications needs
?Project approval procedure
This question was answered on: Sep 16, 2020
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