Professional AccountingAssignmentDelivery Length 300-400wordsYour supervisor at YOUCPA wants to know...

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Professional AccountingAssignmentDelivery Length 300-400wordsYour supervisor at YOUCPA wants to know what you think about the proposed change from GAAP to IFRS in the United States and how it will impactrevenue recognition.	Describe the methods of revenue recognition under each of the following:					U.S. GAAP			IFRS				Describe 1–2 ways in which these 2 methods differ.	Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not?										Grading Criteria														25%						Description of revenue recognition under U.S. GAAP											25%						Description of revenue recognition under IFRS											25%						1–2 ways in which these 2 methods differ											25%						Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not?			Please provide all references in APA format.			Document Preview:				Professional Accounting Assignment Delivery Length 300-400words Your supervisor at YOUCPA wants to know what you think about the proposed change from GAAP to IFRS in the United States and how it will impact revenue recognition. Describe the methods of revenue recognition under each of the following: U.S. GAAP IFRS Describe 1–2 ways in which these 2 methods differ. Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not? Grading Criteria25%Description of revenue recognition under U.S. GAAP25%Description of revenue recognition under IFRS25%1–2 ways in which these 2 methods differ25%Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not? Please provide all references in APA format.

Robert · Accepted Answer

Professional Accounting 
Assignment 
Delivery Length 300-400words 
Your supervisor at YOUCPA wants to know what you think about the proposed change from 
GAAP to IFRS in the United States and how it will impact revenue recognition. 
 Describe the methods of revenue recognition under each of the following: 
o U.S. GAAP 
o IFRS 
 Describe 1–2 ways in which these 2 methods differ. 
 Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the 
needs of the International Financial Reporting System? Why, or why not? 
Grading Criteria 
25% Description of revenue recognition under U.S. GAAP 
25% Description of revenue recognition under IFRS 
25% 1–2 ways in which these 2 methods differ 
25% 
Do you think that the traditional U.S. GAAP method of revenue 
recognition fulfills the needs of the International Financial 
Reporting System? Why, or why not? 
 Please provide all references in APA format. 
While US GAAP and IFRS are slowly moving towards convergence there are slight differences 
in the approach they follow towards book keeping. IFRS,

Grading Criteria
25%	Description of revenue recognition under U.S. GAAP
25%	Description of revenue recognition under IFRS
25%	1–2 ways in which these 2 methods differ
25%	Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not?

Professional Accounting Assignment Delivery Length 300-400words Your supervisor at YOUCPA wants to know what you think about the proposed change from GAAP to IFRS in the United States and how it will...

Answer To: Professional Accounting Assignment Delivery Length 300-400words Your supervisor at YOUCPA wants to...

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