AC 300 Unit 2 Assignment NEW

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Kaplan AC 300 Unit 2 Assignment NEW
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ignmentcloud.com/ AC 300 Unit 2 Assignment NEW
Complete cases CA1.7 on page 26 and IRFS1.5 on
page 39 of your text. This assignment is not
located in Wiley Plus. Directions for Submitting
your Assignment
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Compose your Assignment in a Microsoft Word
document, or Excel if appropriate, and save it as
Username-AC 300 Assignment-Unit.doc (Example
TAllen-AC 300_Assignment-Unit2.doc). Submit your
file by selecting the Unit 2 Assignment Dropbox
by the end of Unit 2.
Assignment Requirements
Written work should be free of spelling, xammar,
and APA errors. Points
ettiwifllll
spelling, or grammar error are at your
instructor's discretion.
Review the grading rubric below before beginning
this activity. CA1-7 (Need for GAAP) Some argue
that having various organizations establish
accounting principles is wasteful and
inefficient. Rather than mandating accounting
rules, each company could
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voluntarily disclose the type of information it
considered important. In addition, if an investor
wants additional information, the investor could
contact the company and pay to receive the
additional information desired. Instructions Comme
nt on the appropriateness of this viewpoint.
tf?-5 The follown? cofmments fwfre made at an
Annual Conference of the Financial Executives
Institute (FEI).
There is an irreversible movement towards the
harmonization of financial reporting throughout
the world. The international capital markets
require an end to
1. The confusion caused by international
companies announcing different results
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depending on the set of accounting standards
applied. 2. Companies in some countries obtaining
unfair commercial advantages from the use of
particular national accounting standards. 3.
The complications in negotiating commercial
arrangements for international joint ventures
caused by different accounting requirements. 4.
The inefficiency of international companies
having to understand and use a myriad of
different accounting standards depending on the
countries in which they operate and the countries
in which they raise capital and debt. Executive
talent is wasted on keeping up to date with
numerous sets of accounting standards and the
never-ending changes to them.
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5. The inefficiency of investment managers,
bankers, and financial analysts as they seek to
compare financial reporting drawn up in
accordance with different sets of accounting
standards. Instructions What is the
International Accounting Standards Board?
What stakeholders might benefit from wvthe use
of Intemonal tocrnUnis Standards?
What do you believe are some of the major
obstacles to convergence?