This week you will be researching and discussing how to apply financial reporting concepts, standards, and disclosures to financial statements using IFRS
Case: Exercise 7, pg 225 in your text.
Based on your readings and peer reviewed literature you will be providing a detailed analysis of the assigned case. Be sure to include in your analysis a detailed explanation regarding the financial reporting concepts discussed in this case and how they are directly related to this case. Also clearly identify related IFRS standard(s) and disclosures to the financial statements presented in this case as applicable.
The body of this paper should be 2 – 3 pages (not including cover page, abstract or references).
This research paper requires a minimum of 2 scholarly references: academic journals, professional journals, and/or appropriate authoritative references such as FASB Codification System, IFRS, etc.
Be sure to provide specific examples throughout your paper to back up your statements
Exercise 7. Obtain IRS based annual reports of two companies in the same industry from two different geographic
regions. Discuss the two items with the largest differences in the application of IFRS. Discuss the two items with the greatest similarity in the application of IFS. Why do similarities and differences occur?
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