Use the Internet to research articles on ASC 740 (SFAS 109) and International Accounting Standard (IAS) 12.

Question:

Use the Internet to research articles on ASC 740 (SFAS 109) and International Accounting Standard (IAS) 12.
"Taxes" Please respond to the following:
From the e-Activity, create a scenario reflecting the differences between and international accounting standards for taxes. Determine which reporting standard best reflects financial reporting for taxes, and support your position.
Examine the impact of FIN 48 (Accounting for the Uncertainty in income taxes) on reporting. Identify the benefits of the requirements on financial reporting. Assess whether FIN 48 was necessary, and support your position.
GAAP
Generally 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...