What is U.S. GAAP? What is IFRS?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
US GAAP generally accepted accounting principles in the ...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Survey of Accounting
ISBN: 978-0078110856
3rd Edition
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
Question Posted:
Students also viewed these Accounting questions
-
V. Propose a reasonable mechanism for the following reaction. (10 pts.) ICI AICI
-
What is a major difference between IFRS and GAAP as regards revenue recognition practices?
-
What is the most significant IFRS departure from U.S. GAAP for valuing property, plant, and equipment?
-
An order book displays the following information for stock ABC: Bid Shares 200 100 300 200 Price 25.76 25.66 25.62 25.54 Ask Price 25.82 25.94 25.98 26.06 Shares 100 200 200 400 What is the total...
-
Amir's Fleet Feet Inc. produces dance shoes for stores all over the world. While the pairs of shoes are boxed individually, they are crated and shipped in batches. The shipping department records...
-
A window is in the form of a rectangle surmounted by a semicircle. The rectangle is of clear glass, whereas the semicircle is of tinted glass that transmits only half as much light per unit area as...
-
In Example 2, the adult weighing 285 pounds decides to not participate in the study. What is the median weight of the remaining adults? Data from Example 2 Find the median of the weights listed in...
-
Shasta Hills, a winery in British Columbia, manufactures a premium white cabernet and sells primarily to distributors. Wine is sold in cases of one dozen bottles. In the year ended December 31, 2013,...
-
What are the challenges in integrating process simulation with real-time process control and automation? How can digital twins and cyber-physical systems support the seamless integration of...
-
Assume that the total sales value at the split-off point for product 1 is $50,000 instead of $130,000 and the sales value of product 3 is $2,000 instead of $20,000. Assume also that, because of its...
-
What is the historical cost concept and how does it relate to the reliability concept?
-
Free economies use open markets to allocate resources. Required Identify the three participants in a free business market. Write a brief memo explaining how these participants interact to ensure that...
-
Use the graph to find the limit (if it exists). If the limit does not exist, explain why. lim tan x x- /2 2 1 y 2 . 3 2 -x
-
What is the NET PROFIT IN DOLLARS AND PERCENT? GM = $ 2 8 0 , 0 0 0 COGS = $ 3 0 0 , 0 0 0 Expenses = $ 2 0 0 , 0 0 0
-
2. Convert the following NFA to DFA. 0,1 S 0 1 0 1 0 1 0 1
-
The policy name is Food Safety - Washing hands. who is the person responsible for this and documents needed under area compliance?
-
Gerald, a certified public accountant, informs his client, Simon, a small business owner, that Simon's production expenses for the last year were $40,000. Revenues were $100,000. Simon gave up a job...
-
Compute the composite depreciation rate and the composite life of Swifty's assets. (Round answers to 1 decimal place, e.g. 4.8% or 4.8 years.)
-
Suppose that annual output in year 1 in a 3-good economy is 3 quarts of ice cream, 1 bottle of shampoo, and 3 jars of peanut butter. In year 2, the output mix changes to 5 quarts of ice cream, 2...
-
MgO prevents premature evaporation of Al in a furnace by maintaining the aluminum as Al2O3. Another type of matrix modifier prevents loss of signal from the atom X that readily forms the molecular...
-
In Problems 2330, multiply mentally. a. C. (c + 1)(c-7) (2x + 1)(x - 1) b. (z - 3)(z + 5) (2x - 3)(x - 1)
-
On October 1, 2010, Cody Doerr established Banyan Realty, which completed the following transactions during the month: a. Cody Doerr transferred cash from a personal bank account to an account to be...
-
Dodge City Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on July 31, 2010, is shown below. The following business transactions were...
-
What are the basic elements of a financial accounting system? Do these elements apply to all businesses, from a local restaurant to Apple Inc.? Explain.
-
When owning and operating any business, whether it's a caf or a pool cleaning business, it's very important that you know exactly what your income and expenditure is. Is your business making money or...
-
Resources Unlimited Corporation was formed in 1985 through the merger of two natural pipeline companies. The result was the largest gas distribution network in the United States, with 38,000 miles of...
-
Toyota was the world's first automobile manufacturer to produce more than 10 million vehicles per year, which it has done since 2012, when it also reported the production of its 200-millionth...
Study smarter with the SolutionInn App