Unit 2 Presentation

Description:

You will prepare a 10-minute narrated video presentation based on the scenario provided below. The presentation is worth 140 points.

Instructions:

In preparation for completing this activity, read pages 2-29 of the resource, US GAAP verus. IFRS: The Basics .

Scenario: This is your first month on the job at ABC Textiles and you have been given the task to create a presentation explaining the similarities and differences of the new reporting standards outlined by IFRS. To do this, you must investigate the GAAP rule, assess how the new IFRS practice may be put into play, and describe any long-term effects of the change. ABC Textiles has just decided to purchase a location in Japan and the home office will remain in New Orleans, LA. Your goal of the presentation is to explain in detail the similarities and/or differences between GAAP and IFRS reporting as each pertains to:

• Non-controlling interest of the new location in Japan.
• The guidelines for GAAP and IFRS inventory methods and how changing to IFRS rulings may change the overall value of current assets within the financial statements.
• Differences in accounting for impairment of long-lived assets and goodwill when calculating the fair value and recoverable amount of the assets value according to GAAP and IFRS.
• Variances in rules when accounting for financial instruments such as Available-for-Sale equity instruments and Held-to-Maturity debt instruments.
• Financial report validation by the Securities and Exchange Commission (SEC).

Your presentation will serve as a guide to managers who are not familiar with GAAP, IFRS, or how the financial statements are verified by the SEC. Therefore you will need to provide as much detail as possible with examples when needed.

The main content portion of your presentation should be between 8-12 slides/screens. Additionally, a separate title slide is required, as well as an ending reference slide. Use APA formatting.