Publically traded companies will be required to adopt IFRS at the end of the convergence of IFRS and US GAAP. Companies adopting IFRS for the first time will be required

Publically  traded companies will be required to adopt IFRS at the end of the  convergence of IFRS and US GAAP. Companies adopting IFRS for the first  time will be required to follow IFRS 1 (First-time Adoption of  International Financial Reporting Standards) as well as all other IFRS  standards in force at that time. For example, in May 2014, The IASB and  FASB published IFRS 15: Revenue from Contracts with Customers, to be  effective in January 2017. Complete the following tasks for the company you have selected as the subject of your impact analysis: a. 2-4 pages of word document on discussion of IFRS 1, 15 and IAS 1 and 7. b. Update IA chart with key provisions of the standards (IFRS 1, 15 and IAS 1 and 7) that you discuss. c.  Review the financial statements of the company you chose from SEC EDGAR  website, explain what accounts would be affected by IFRS 1, 15 and IAS 1  and 7 that you discussed above. How would company make changes to  modify the financial statements? (400-600 words discuss

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