Assume that the privately held technology company decides to become a publicly traded company on the NASDAQ

Question:

Assume that the privately held technology company decides to become a publicly traded company on the NASDAQ and is required to adopt International Financial Reporting Standards (IFRS). Determine the areas of the that will be impacted by the shift and how the stock market is likely to respond to this change in accounting methods.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...