Question: Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three specific differences. Additionally, clearly Distinguish between

Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three specific differences. Additionally, clearly

  • Distinguish between an expense (expired cost) and an asset.
  • Distinguish between current and long-term assets.
  • Distinguish between current and long-term liabilities.
  • Review Apples balance sheet and provide two examples of each of the above categories.
  • Discuss retained earnings and how income or loss and dividends affect this account. Review Apples retained earnings account and explain how it changes between the two past years.
  • Comment on at least three differences between Apples and Samsungs balance sheets.
  • Does Apple or Samsung have more debt?
  • Which of the two companies is the bigger one? Explain your reasoning.

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