Either subscribe (fee) to IFRS or register for the free limited access
Either subscribe (fee) to IFRS or register for the free limited access at http://www.iasb.org/IFRSs/IFRS.htmWrite a convergence memo (500-750 words) to the client discussing the current state of convergence between IFRS and U.S. GAAP on revenue recognition. You may use the “Memo Template” provided. In your memo, be sure to address the following:
- Describe the similarities and differences in accounting for revenue recognition under the international standards and the FASB standards.
- Identify (in general terms) the possible impact on the financial statements of your specific company of changing from FASB to IFRS.
- How should these items be disclosed under IFRS and FASB?
You must integrate at least two academic sources, in addition to the AICPA website and the IFRS website, in your discussion.
While APA style is not required for the body of this assignment, solid academic writing is expected, any documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.