Discuss and describe the project, its history (briefly), and the project’s status. The final section of your report should describe the implications of the project’s adoption. For example, a report might discuss a project that would result in accelerating the recognition of certain expenses and require additional disclosures.
Specifically:
Familiarize yourself with the IASB project, including information on the history and background of the project and its status.
Using resources at www.ifrs.org and www.fasb.org (including free access to U.S. GAAP codification if you register at the Web site as explained), identify the relevant international, GAAP and current standards involved. Discuss the proposed change (i.e., what will be different?) and the reasons for the change if related to IASB.
As you conduct research, identify an actual case that may have provided the impetus for this proposed change, or that would have been influenced by the proposed change. At least two sources should be from scholarly or professional journals.
Consider SEC comments in place on changes to use of IFRS. How prevalent is IFRS in SEC reporting? How will this affect reporting requirements? Provide examples in context.
Frequently the large Accounting Firms have extensive analyses of IFRS and FASB topics. It is strongly recommended to become familiar with these websites. Occasionally they will also offer free webinars on IFRS and FASB topics.
Prepare an annotated bibliography. See Course Content for more information and a sample annotated bibliography.
Identify stakeholders and the impact of the proposed change on each of the stakeholders (comment letters may provide good insight).
Link for the project:
https://www.ifrs.org/projects/work-plan/cash-received-via-electronic-transfer-as-settlement-for-a-financ/
Last Completed Projects
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