Ifrs Essays and Research Papers

Instructions for Ifrs College Essay Examples

Title: IFRS and GAAP Convergence

  • Total Pages: 6
  • Words: 2041
  • Works Cited:4
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: Please list the questions and then answer the question.

Research U.S-based multinational Corporation Walmart

1. Briefly describe Walmart (in one (1) short paragraph).

2. Given the SEC’s current position on requiring U.S. publically traded companies to report using the IFRS method of accounting, discuss whether or not it would be beneficial or punitive to the company when adopting IFRS. Explain your rationale.

3. Determine the differences that would occur (or have occurred) by using IFRS for the income statement, balance sheet, and statement of cash flows, and how these differences may attract investors to the company.

4. Compare and contrast the differences in the financial statements, and the advantages and disadvantages of using IFRS versus GAAP reporting.

5. Make recommendations as to whether Walmart should use IFRS or GAAP as its reporting standard. Explain your rationale.

6. Include four (4) external peer-reviewed sources.


Please ensure that APA style is used.

Please adhered to the double spacing, do not have more than 2 spaces between paragraphs.

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References

Bandyopadhyay, J., & McGee, P.F. (2012). A PROGRESS REPORT: IFRS-U.S. GAAP CONVERGENCE AND ITS CURRICULUM IMPACT. Advances In Competitiveness Research, 20(1/2), 78-89.

Tyson, T. (2011). The Convergence of IFRS and U.S. GAAP. CPA Journal, 81(6), 26-31.

Bohusova, H., & Nerudova, D. (2009). U.S. GAAP AND IFRS CONVERGENCE IN THE AREA OF REVENUE RECOGNITION. Economics & Management, 12-19.

Fosbre, A.B., Kraft, E.M., & Fosbre, P.B. (2009). The Globalization of Accounting Standards: IFRS vs. U.S. GAAP. Global Journal Of Business Research, 3(1), 61-71.

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Title: IFRS US GAAP Comparative Report

  • Total Pages: 15
  • Words: 4642
  • Bibliography:15
  • Citation Style: MLA
  • Document Type: Research Paper
Essay Instructions: 1) This assignment has been specifically identified as a "turnitin.com" candidate, so please do your best to provide original thought & precisely reference all quotes. Identifying at least 3 differences is the minimum, and the most ideal would be to identify 5 differences between US GAAP & IFRS. His ultimate suggestion on the comparative section would be that if Lockheed Martin wanted to report in IFRS, what would they have to do to conform?

2) Comparative Research Paper:

Two companies, BAE Systems & Lockheed Martin, will be selected for comparison. BAE Systems is a foreign, publicly-traded business reporting their financials based on International Financial Reporting Standards (IFRS) and Lockheed Martin reports in US GAAP. These companies are from the same industry (for example, BAE Systems is a publicly-traded Defense Contractor headquartered in England and Lockheed Martin is a publicly-traded Defense Contractor headquartered in the United States). The written comparative report should be approximately 15 pages (double spaced) providing pertinent information of the companies (their history, industry, reporting standards, etc.) and then a comparison of differences between IFRS and US GAAP specifically identified in the financial statements of the two selected companies.

Evaluation of the report is based on (1) written report conformity to writing standards (grammar, spelling, etc.), and (2) depth of analysis of the differences identified and will be judged by the following rubric:

Discussion of history & industry of two companies selected: 10 points

Discussion of IFRS vs. US GAAP:
Does the discussion clearly identify the difference between IFRS & US GAAP? 25 points
Does the discussion offer insight into how a change to IFRS will affect the US company? 25 points
Does the discussion provide an in-depth analysis of the difference? 25 points

Conformity to standard, English writing standards:
Is the report written using acceptable grammar? 5 points
Is the report free of spelling errors? 5 points
Does the report use correct punctuation? 5 points

Total Points 100 points

3) My initial thought to organize the paper was:

A) Executive Summary/Introduction - 1 Page
B) BAE Systems Profile/Analysis - 2-3 Pages
C) Lockheed Martin Profile/Analysis - 2-3 Pages
D) Lockheed Martin Conversion to IFRS - 7-9 Pages
E) Closing Summary - 1 Page

However, please feel free to employ some personal interpretation into the assignment.

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References

AICPA (2008). Convergence with International Accounting Standards.

American Institute of Certified Public Accountants. (2009). Where will the SEC take the IFRS roadmap? An AICPA Analysis of Comment Letters on the SEC's Proposal.

Ball R. (2006). International financial reporting standards (IFRS): pros and cons for investors. Accounting and Business Research

Bradshaw, M., et al. (2010). Response to the SEC's proposed rule - Roadmap for the potential use of financial statements prepared in accordance with international financial reporting standards (IFRS) by U.S. Issuers. Accounting Horizons, 24(1)

Crovitz, L.G. (2008). Closing the information GAAP. The Wall Street Journal.

Edwards, R. (1979). Contested terrain, the transformation of the workplace in the twentieth century. NY: Basic Books.

Financial Accounting Standards Board and International Accounting Standards Board (2002). Memorandum of Understanding, "The Norwalk Agreement."

Gucenme, U. & Arsoy, a.P. (2005). Changes in financial reporting in Turkey, historical development of inflation accounting 1960 -- 2005. Special Issue: Accounting for the Global and the Local: The Case of Turkey. Critical Perspectives on Accounting, 20(5).

Hartung, W.D. (2010). Prophets of war: Lockheed Martin and the making of the military-industrial complex. NY: Nation Books.

International Accounting Standards Board (2007): International Financial Reporting Standards 2007 (including International Accounting Standards (IAS (tm)) and Interpretations as of 1 January 2007)

SEC Proposes Roadmap Toward Global Accounting Standards to Help Investors Compare Financial Information More Easily (2008). (Press release). U.S. Securities and Exchange Commission.

Sparaco, P. & Morrocco, J.D. (1997). French government grapples with aerospace strategy. Aviation Week and Space Technology. NY: The McGraw-Hill Companies.

Spiceland, D., Sepe, J., Nelson, M., & Tomassini, L. (2009). Intermediate Accounting (5th Ed). McGraw-Hill/Irwin.

Spiegel, P. (2004). The largest aerospace companies gather next week for the Farnborough air show but the event will be without its long-time unofficial host. Financial Times.

Warwick, G. (2004). Best of British; for years BAE Systems' identity was British, but with its investment in foreign markets increasing, change is just around the corner. Flight International. Reed Elsevier Inc.

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Title: Difference between IFRS and US GAAP

  • Total Pages: 4
  • Words: 1247
  • Sources:0
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: Writing an essay which addresses one difference between IFRS and US GAAP. Explore the following questions:
a) What is IFRS? What is US GAAP?
b) Which approach best serves the objectives of SFAC #8?
c) What are the primary differences between the IFRS and US GAAP approaches?
d) Which approach best serves the SME community?

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Title: IFRS 8 Operating Segments

  • Total Pages: 5
  • Words: 1664
  • References:10
  • Citation Style: MLA
  • Document Type: Research Paper
Essay Instructions: Main Point

Discuss whether the requirements of IFRS 8 Operating Segments can reasonably be criticised as inadequate.

Assignment Guidance

The aim of this assignment is to develop your skills in independently researching and evaluating the requirements of a particular international accounting standard.

You should consider the following questions while carrying out research and planning your essay:

? What is the purpose of segmental information?

? What are the requirements of IFRS 8 in relation to segmental information and how do they differ from other past and present accounting standards?

? What evidence is there whether the current requirements of IFRS 8 are adequate or inadequate in enhancing the quality of information available to users of financial statements?

not long or short introduction and conclusion

the 3 bullet points should be answered in the essay

how IFRS8 have improved from IAS 14

any phrases used should be quoted and refrenced

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References:

References:

Bush, T 2007, IFRS 8: What is it Good for? Accountancy Age, viewed 26 November 2014,



Crawford, L., Extance, H., Helliar, C. & Power, D. 2012, Operating Segments: The Usefulness of IFRS 8, The Institute of Chartered Accountants of Scotland, viewed 26 November 2014,



Crawford, L., Helliar, C. & Power, D. 2010, Politics or Accounting Principles: Why Was IFRS 8

So Controversial? Chartered Accountants' Trustees Limited, viewed 26 November 2014,



Deloitte Global Services Limited 2014, IAS 14 -- Segment Reporting (Superseded), Deloitte

Global Services Limited, viewed 26 November 2014,

Deloitte Global Services Limited 2014, IFRS 8 -- Operating Segments, Deloitte Global Services

Limited, viewed 26 November 2014,

IFRS Foundation 2014, IFRS 8 Operating Segments, IFRS Foundation, viewed 26 November

2014,

IFRS Foundation 2013, Post-implementation Review: IFRS 8 Operating Segments, IFRS

Foundation, viewed 26 November 2014,

Perrin, S 2012, Challenging IFRS 8, Accountancy Live, viewed 26 November 2014,



Price Waterhouse Coopers 2010, Making Sense of a Complex World IFRS 8 Operating

Segments, viewed 26 November 2014,

The Institute of Chartered Accountants 1990, Segmental Reporting, Statement of Standard

Accounting Practice, viewed 26 November 2014,

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