Describe the context in which accounting research is performed internationally, and the role of IFRS in international accounting research. pages XXXXXXXXXX Describe the structure and mission of the...

After completing the assigned readings and activities, you should be able to

1. Describe and discuss the international accounting environment. pages 85 - 87


2. Explain global and domestic adoption of International Financial Reporting Standards. pages 86 - 87


3. Describe the International Accounting Standards Board and its structure. pages 87 -93

1. Exercise 2 - Locate an IFRS/U.S. GAAP comparison guide. Name three difference between the U.S. GAAP and IFRS requirements related to lease scope. AND provide the ASC citation and words of the citation - use the printer friendly feature in the ASC to cut and paste - that show the U.S. GAAP for each of these 3 differences) (6 points)

 Exercise 7 Navigate to Deloitte’s iasplus.com website. Name two specific resources that you might find useful on this website if you are researching the accounting for a client’s possible acquisition of another entity (3 points)

 Exercises 8 Select one of the IASB’s current projects, and describe some of the considerations which led the Board to address this issue (6 Points )

 Exercise 9 Locate an agenda from an upcoming IASB meeting and list three or four of the topics they plan to cover. Which of these topics do you think may be the most closely watched by the IASB’s constituents? Explain. (6 points)

 Describe and discuss the due process procedures of the IASB in the establishment of a standard.  Compare and contrast the due process of the IASB to the due process of the FASB. (10 points)