[Solved] Financial Accounting

Instructions

Please discuss similarities and differences between U.S. GAAP and IFRS regarding the following:

You are required to write a paper addressing the following:

Introduction
Summary of the GAAP and IFRS standard
Discussion of the similarities and differences among each standard
IFRS and GAAP have different methods for inventory valuation, income statement presentation, intangible assets recognition, and fixed assets revaluation. Discuss the differences for each.
Conclusion

The paper MUST be in APA format.

Inventory AnalysisActivity ContextRevisit the MBA6014 Course Alignment Map to review how all activities assist you in achieving the course competencies and overall program outcomes.Activity InstructionsIn this assignment, you will apply the various concepts of the cost assumptions presented in Chapter 7 regarding inventory. Utilizing your understanding of inventory, you will locate and interpret the information provided within a given set of financial statements.Complete P7-3 (pages 369370) and CP7-2 (page 376) from Chapter 7 of your Financial Accounting textbook.Property, Plant, and Equipment AnalysisActivity ContextRevisit the MBA6014 Course Alignment Map to review how all activities assist you in achieving the course competencies and overall program outcomes.Activity InstructionsThis assignment provides you an opportunity to apply the concepts of accounting for property, plant, and equipment, such as determining and recording the cost of tangible assets and computing the depreciation expense based on various depreciation methods. Using the knowledge gained from the Unit 4 studies, you should be able to analyze and interpret the financial information provided in a set of financials pertaining to property, plant, and equipment.Complete P8-3 (page 432) and CP8-2 (page 443) from Chapter 8 of your Financial Accounting textbook.Submission RequirementsAll quantitative assignments must be completed on the Microsoft Excel templates provided. Create one workbook with multiple tabs, copying each problem’s template onto a separate tab and completing the work there. Submit this single file in the assignment area. Include your name and the assignment number in the file name; also include your name and the problem number on each tab of the document. All work should be shown. Assignments must not be submitted as a PDF.Refer to the scoring guide for this assignment to ensure that you meet the grading criteria. Note that one scoring guide is used to evaluate both of the problems in this assessment; each criterion in the scoring guide relates to one or both of the problems here.