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...

ACCT460-1204A-01 Professional AccountingAssignment Name:Unit 2 Discussion BoardDeliverable Length:250 wordsDetails: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 Criteria25%Description of revenue recognition under U.S. GAAP25%Description of revenue recognition under IFRS25%1–2 ways in which these 2 methods differ25%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? Objective:? Develop a thorough understanding of accounting standards and principles. ? Fulfill the core accounting educational requirement to sit for the CPA exam. ? Prepare to practice in public and private accounting position. ? Advance to a higher professional level.