The two documents called $$Depreciation Methods$$ and $$GAAP vs IFRS$$ and answer the questions. Review Cash Flow and Financial Planning module and $$HBS Managers Guide to Finance and Accounting$,$ which I think provides a useful summary to frame the scope of what is necessary to understand as a financial manager.

Questions to Answer:

$1)$What does Harvard Business School refer to as the $$language of business$$ and what can be achieved by learning to speak this language?

$2)$Explain the two acronyms GAAP and IFRS.

$3)$Describe the key differences between IFRS and GAAP.

$4)$What are the four GAAP approved depreciation methods?

$5)$In the USA, MACRS is not a GAAP approved depreciation method, yet several US$-$based companies use MACRS depreciation method. If MACRS is not a GAAP approved deprecation method, what is the purpose of companies using it$?$