![]() Use the Financial Accounting text and at least two additional scholarly-reviewed references from the University of Phoenix Online Library. IFRS10-3: Briefly describe some similarities and differences between GAAP and IFRS with respect to the accounting for liabilities.įormat your essay consistent with APA guidelines.IFRS 10-2: Explain how IFRS defines a contingent liability and provide an example.Explain the difference between these accounts and how a company decides which classification is appropriate. IFRS 9-3: Some product development expenditures are recorded as development expenses and others as development costs.IFRS 9-2: What is revaluation of plant assets? When should revaluation be applied?.IFRS 9-1: What is component depreciation, and when must it be used?.IFRS 8-1: What are some steps taken by both the FASB and IASB to move to fair value measurement for financial instruments? In what ways have some of the approaches differed?.Your essay should include the answers to the following: An introduction and a conclusion are needed. The summary should be structured in a subject-by-subject format. ![]() For example, input regarding IFRS 10-2 posted in Week 4 will not be eligible to earn collaboration credit since the topic was related to Week 3. Input posted during Week 4 must relate to the information regarding IFRS at the end of Chapters 12 and 13. Input regarding IFRS 10-2 and 10-3 must be posted during Week 3. ![]() Input regarding the questions for IFRS 8-1, 9-1, 9-2 and 9-3 must be posted during Week 2. ![]() The essay is an individual assignment however, team collaboration is worth 30 % of the available points for the essay. Write a 700- to 1,050-word summary of the team's discussion about IFRS versus GAAP, based on your team collaborative discussions. ![]()
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