Question: a. Compare similarities and dissimilarities between IFRS and US GAAP with the help of illustrations. b. Discuss about Regulatory authority for monitoring accounting standards

a. Compare similarities and dissimilarities between IFRS and US GAAP with the help of illustrations. b. Discuss about Regulatory authority for monitoring accounting standards and Financial Reporting in Oman and other GCC countries. c. Discuss in detail about IFRS 7 & IFRS 9-Financial Instruments and IFRS 13 Fair Value I. Explain in detail about financial instruments and fair value with the help of examples. II. Discuss Objectives, Measurement and recognition under the above standards with two detailed examples covering important components of the standard. III. Disclosures to be provided to the users under the above standard.

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