Use the Internet or the Strayer Library to research the difference in the cash flow reporting requirements
Question:
Use the Internet or the Strayer Library to research the difference in the cash flow reporting requirements between US GAAP and IFRS. Given the complexities related to preparing and interpreting the statement of cash flow, evaluate the current requirement under GAAP and IFRS, indicating improvements that you would make to each method's requirement to better serve the users of the information. Provide a rationale for your changes.
Analyze the impact of erroneous classifications in the Operating Activities section of the statement of cash flows, detailing how the distortion can impact the decisions made by financial statement users. Suggest how these errors may be minimized.
GAAPGenerally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Some of the Key differences are outlined Below Subject US GAAP IFRS Definition of cash and cash equivalents Cash and shortterm highly liquid investmen...View the full answer
Answered By
Sidharth Jain
My name is Sidharth. I completed engineering from National Institute of Technology Durgapur which is one of the top college in India. I am currently working as an Maths Faculty in one of the biggest IITJEE institute in India. Due to my passion in teaching and Maths, I came to this field. I've been teaching for almost 3 years.
Apart from it I also worked as an Expert Answerer on Chegg.com. I have many clients from USA to whom I teach online and help them in their assignments. I worked on many online classes on mymathlab and webassign. I guarantee for grade 'A'.
3+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
