2. Locate an IFRS/U.S. GAAP comparison guide. Name one difference between the U.S. GAAP and IFRS requirements related to how the term "probable" is used in applying the collectability threshold for revenue recognition. 4. Locate the most recent Form 20-F of Manchester United plc. a. First, determine whether the financial statements were prepared in accordance with IFRS or another reporting framework, and describe where you located this basis of preparation information. b. Considering what you learned in this chapter, why might Manchester United be permitted to prepare financial statements for the U.S. SEC in accordance with a reporting framework other than GAAP? c. Finally, identify Manchester United's auditor and describe the auditing standards applied by the company's auditors. 8. Can a subsidiary - whose parent uses full IFRS - use IFRS for SMEs if the subsidiary itself is not publicly accountable? 11. Assume that an entity complied with IFRS guidance in all respects, except that the entity had never included an IFRS compliance statement in its financial statement footnote disclosures. Is the entity subject to the guidance for first-time adopters of IFRS? Use authoritative guidance to respond