compare and contrast GAAP vs. International Standards.

Include background on international accounting standards. Include 1 or 2 differing standards and discuss the differences between GAAP and IFRS. Use examples of the different standards and discuss how they could affect financial reporting. Use any resources necessary, including the IFRS web site and the text. Include a bibliography. Paper should be approximately 5 pages in length typed. You should complete research on a particular aspect of the international standards reporting initiative base on the following criteria. The internet should prove to be a valuable resource for this assignment. The IRFS website (www.ifrs.org) would be a great place to start. You should include: Write a brief background of the initiative. Choose any aspect(s) of accounting reporting that might be affected by the switch to International Accounting Standards from GAAP. Include examples. Compare the differences in the reporting of the aspect(s) that the student chooses.

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