Accounting Question

RESEARCH ANALYSIS PAPER: PLEASE USE ATTACHED TEMPLATE

BOOK: INTERMEDIATE ACCOUNTING -REPORTING AND ANALYSIS, 3RD EDITION (WALLEN/JONES/PAGACH)

As you identify the differences between U.S. GAAP and IFRS throughout the course, for this research paper you will select one ASC (example: 805/Business Combinations) for a more in depth evaluation and analysis.  You are asked to compare and contrast the standard under U.S. GAAP and IFRS for similarities and differences.  Include appropriate information related to the FASB Conceptual Framework for additional insight into the causes and reasons behind the differences. Also discuss the plan for convergence of the U.S. GAAP standard with IFRS.  If the standard is not converged, discuss the plan for and/or obstacles to convergence.  If the standard is converged, discuss the rationale behind any remaining differences between the two sets of standards.

A research paper is an analysis of your research, authoritative with both references and citations listed. The main part of the paper is researching one topic from GAAP (an ASC) and comparing to IFRS. This research paper, not including the title page and references page, should be 5-7 pages and is to be in APA format using the template provided. For more information on APA and writing requirements, see Writing Resources under Learning Activities listed before Week 1.

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U.S. GAAP vs. IFRS Research Analysis
[Student Name]
For
ACC 310 – Intermediate Accounting 1
California Baptist University
Professor (Name)
[Date]
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Introduction
Provide a paragraph of Introduction to the paper. An effective introduction will often
provide a summary of what will be discussed in your paper ad establish the importance of your
topic. Why is this topic important and why should the reader care? You want to provide an
introduction before going to the paper sharing with the reader the topics to be discussed
Part 1 – Assessment of Differences: U.S. GAAP and IFRS
From the template analysis, provide an overview of the 10 items selected, giving the
reader a sense of the overall differences/challenges faced in having two standards: GAAP and
IFRS.
Part 2 – In Depth Analysis of One Difference: U.S. GAAP and IFRS
Name of Standard
Include the name and ASC number of the Standard. Identify the name and number of the
related standard under IFRS (1 – 2 sentences).
Brief Summary of Standard under U.S. GAAP
Provide a brief summary of the important aspects of the standard under U.S. GAAP (2 –
3 paragraphs).
Similarities with IFRS
Discuss the similarities between the standard under U.S. GAAP and IFRS (2 – 3
paragraphs).
Differences from IFRS
Summarize and discuss the major differences between the standard under U.S. GAAP
and IFRS (2 – 3 paragraphs).
Relationship of Standard to U.S. GAAP Conceptual Framework
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Discuss how this standard relates to the Conceptual Framework and why that is important
to understanding the current state of the standard and its future (2 – 3 paragraphs).
Plan for Convergence
Discuss the plan for convergence of the U.S. GAAP standard with IFRS. If the standard
is not converged, discuss the plan for and/or obstacles to convergence. If the standard is
converged, discuss the rationale behind any remaining differences between the two sets of
standards (2 – 3 paragraphs).
Conclusion
A detailed conclusion, of at least one paragraph, should reaffirm your thesis which is long
enough to leave the reader with a summary of the main points you want taken from your research
and writing.
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References
You are required to use the ASCs and IFRS standards used in the Research Paper and list
them as references (Note: you do not need to list the source of all ASC/IFRS reviewed in the
EXHIBIT except listing the ASC/title or IFRS/title used. See APA 7th edition for proper format
of citations and references.
Research Paper: ASC Standard under U.S. GAAP vs. IFRS Writing
Assignment
ACC 311, Intermediate Accounting II
RESEARCH ANALYSIS PAPER
As you identify the differences between U.S. GAAP and IFRS throughout the
course, for this research paper you will select one ASC (example:
805/Business Combinations) for a more in depth evaluation and analysis.
You are asked to compare and contrast the standard under U.S. GAAP and
IFRS for similarities and differences. Include appropriate information related
to the FASB Conceptual Framework for additional insight into the causes and
reasons behind the differences. Also discuss the plan for convergence of the
U.S. GAAP standard with IFRS. If the standard is not converged, discuss the
plan for and/or obstacles to convergence. If the standard is converged,
discuss the rationale behind any remaining differences between the two sets
of standards.
A research paper is an analysis of your research, authoritative with both
references and citations listed. The main part of the paper is researching one
topic from GAAP (an ASC) and comparing to IFRS. This research paper, not
including the title page and references page, should be 5-7 pages and is to
be in APA format using the template provided. For more information on APA
and writing requirements, see Writing Resources under Learning Activities
listed before Week 1.
General Requirements
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Must be formatted in APA 7th edition format.
5 – 7 pages in length, not including title and references pages and any
exhibits.
References and citations are required. You MUST include the textbook
and the appropriate ASC and IFRS, and at least two scholarly
references (these are professional journal sources coming from the
University Library and may NOT include Investopedia,
AccountingTools, etc.).
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•
Each Reference listed must be used at least once in the Research
Paper as a citation.
Proper grammar and sentence/paragraph structure is expected.
Utilize the Writing Lab for assistance with both writing and APA
formatting.
CONTENT:
Title Page
A title page was outlined in the template is required with name, assignment,
course, University, Professor and date.
Introduction
Provide at least a paragraph of Introduction to the paper. An effective
introduction will often provide a summary of what will be discussed in your
paper ad establish the importance of your topic. Why is this topic important
and why should the reader care? You want to provide an introduction before
going to the paper sharing with the reader the topics to be discussed.
Part 1 – Summary of Differences.
From the research, provide an overview of the topic selected, giving the
reader a sense of the overall differences/challenges faced in having two
standards: GAAP and IFRS. Part 1, including the Introduction, should be
approximately one (1) page.
Part 2 – In Depth Analysis of Differences: Students will look beyond the
textbook and investigate the actual authoritative literature within the
Accounting Standards Codification (ASC) and International Financial
Reporting Standards. To gain free access to those sites, see the web links
in FASB/ASC and IFRS Research under Learning Activities listed before
Week 1.
Compare and contrast the ASC standard under U.S. GAAP and IFRS for
similarities and differences. Include appropriate information related to the
FASB Conceptual Framework for additional insight into the causes and
reasons behind the differences. Also discuss the plan for convergence of the
ASC/U.S. GAAP standard with IFRS. If the standard is not converged,
discuss the plan for and/or obstacles to convergence. If the standard is
converged, discuss the rationale behind any remaining differences between
the two sets of standards.
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Part 2 should be approximately three (3) pages, double spaced. Your
analysis should include the following headings (and each heading should be
this approximate length) as provided in the template:
1. Name of Standard (1 – 2 sentences)
2. Brief Summary of ASC Standard under U.S. GAAP (1 paragraph)
3. Similarities with IFRS (2 – 3 paragraphs)
4. Differences from IFRS (2 – 3 paragraphs)
5. Relationship of Standard to U.S. GAAP Conceptual Framework (2 – 3
paragraphs)
6. Plan for Convergence (2 – 3 paragraphs)
Conclusion
A detailed conclusion, of at least one paragraph, should reaffirm your thesis
which is long enough to leave the reader with a summary of the main points
you want taken from your research and writing.
References Page
You are required to use the ASCs and IFRS standards used in the Research
Paper and list them as references. In addition to the ASC/IFRS, you MUST
include the textbook and at least two scholarly references (these are
professional journal sources coming from the University Library and may
NOT include Investopedia, AccountingTools, etc.). Remember, all references
must be used as citations.
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