Differences between GAAP and IFRS
To complete this Discussion:
1. Using your preferred search engine (such as Google), enter one or more of the following keywords:
• IFRS
• U.S. GAAP conversion
• U.S. GAAP convergence
• U.S. GAAP v. IFRS
2. Using the results of your Internet keyword search, focus on and deeply explore the differences between GAAP and IFRS. Consider not only written articles but
also video lecture search results, which you can find by doing your keyword search on YouTube.com. Be sure to critically evaluate the sources that you encounter in
your Internet search. Are they reliable? Are they current?
3. Post an initial response, following the directions shown below.
Week 2:
Post a response to which you discuss the differences between GAAP and IFRS. As you write your post, consider the following:
• What are implications of the differences in these two different financial reporting systems?
• What are two advantages and two disadvantages with each?
The presentation should include a title slide, the body of the presentation, summary, and references in APA 6th edition. (Citations and references are required.).
Discuss the Differences between GAAP and IFRS
Accountants are responsible for following standards, conventions, and rules to ensure ethical accounting in their day-to-day practices. However, the rules in the
United States vary from those followed in other countries. The United States uses what is called U.S. GAAP. “GAAP” stands for Generally Accepted Accounting Principles.
Most of the rest of the world uses what is called International Financial Reporting Standards are known simply as “IFRS.” The United States is in the process of either
converting or converging U.S. GAAP with IFRS.
To complete this Discussion:
1. Using your preferred search engine (such as Google), enter one or more of the following keywords:
• IFRS
• U.S. GAAP conversion
• U.S. GAAP convergence
• U.S. GAAP v. IFRS
2. Using the results of your Internet keyword search, focus on and deeply explore the differences between GAAP and IFRS. Consider not only written articles but
also video lecture search results, which you can find by doing your keyword search on YouTube.com. Be sure to critically evaluate the sources that you encounter in
your Internet search. Are they reliable? Are they current?
3. Post an initial response, following the directions shown below.
Week 2:
Post a response to which you discuss the differences between GAAP and IFRS. As you write your post, consider the following:
• What are implications of the differences in these two different financial reporting systems?
• What are two advantages and two disadvantages with each?

Week 2 Discussion Rubric
The student provides a thorough and detailed explanation of the implications of the differences in these two different financial reporting systems. Excellent use of
examples and references to support theexplanation.
The student provides a thorough and detailed explanation of two advantages and two disadvantages of each financial reporting system. Excellent use of examples and
references to support theexplanation.
Initial post and responses have excellentorganization and contain no writing or spelling errors. Initial post and responses display excellent sentence and paragraph-
level writing skills.

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Your email address will not be published. Required fields are marked *

Differences between GAAP and IFRS
To complete this Discussion:
1. Using your preferred search engine (such as Google), enter one or more of the following keywords:
• IFRS
• U.S. GAAP conversion
• U.S. GAAP convergence
• U.S. GAAP v. IFRS
2. Using the results of your Internet keyword search, focus on and deeply explore the differences between GAAP and IFRS. Consider not only written articles but
also video lecture search results, which you can find by doing your keyword search on YouTube.com. Be sure to critically evaluate the sources that you encounter in
your Internet search. Are they reliable? Are they current?
3. Post an initial response, following the directions shown below.
Week 2:
Post a response to which you discuss the differences between GAAP and IFRS. As you write your post, consider the following:
• What are implications of the differences in these two different financial reporting systems?
• What are two advantages and two disadvantages with each?
The presentation should include a title slide, the body of the presentation, summary, and references in APA 6th edition. (Citations and references are required.).
Discuss the Differences between GAAP and IFRS
Accountants are responsible for following standards, conventions, and rules to ensure ethical accounting in their day-to-day practices. However, the rules in the
United States vary from those followed in other countries. The United States uses what is called U.S. GAAP. “GAAP” stands for Generally Accepted Accounting Principles.
Most of the rest of the world uses what is called International Financial Reporting Standards are known simply as “IFRS.” The United States is in the process of either
converting or converging U.S. GAAP with IFRS.
To complete this Discussion:
1. Using your preferred search engine (such as Google), enter one or more of the following keywords:
• IFRS
• U.S. GAAP conversion
• U.S. GAAP convergence
• U.S. GAAP v. IFRS
2. Using the results of your Internet keyword search, focus on and deeply explore the differences between GAAP and IFRS. Consider not only written articles but
also video lecture search results, which you can find by doing your keyword search on YouTube.com. Be sure to critically evaluate the sources that you encounter in
your Internet search. Are they reliable? Are they current?
3. Post an initial response, following the directions shown below.
Week 2:
Post a response to which you discuss the differences between GAAP and IFRS. As you write your post, consider the following:
• What are implications of the differences in these two different financial reporting systems?
• What are two advantages and two disadvantages with each?

Week 2 Discussion Rubric
The student provides a thorough and detailed explanation of the implications of the differences in these two different financial reporting systems. Excellent use of
examples and references to support theexplanation.
The student provides a thorough and detailed explanation of two advantages and two disadvantages of each financial reporting system. Excellent use of examples and
references to support theexplanation.
Initial post and responses have excellentorganization and contain no writing or spelling errors. Initial post and responses display excellent sentence and paragraph-
level writing skills.

Leave a Reply

Your email address will not be published. Required fields are marked *