Finance Week 2 Name: Course: Lecturer: City State: THE DIFFERENCE BETWEEN GAAP AND IFRS The financial statement I choose is a balance sheet. According to CITATION PWC14 \l 1033 (PWC 2014) the opening of a balance sheet puts into consideration the rules and the standards of IFRS. must determine the extent of retaining risks. Moreover under GAAP the complex equity classifies as capital in the balance sheet whereas as per IFRS equity instruments qualify as a liability. Reference BIBLIOGRAPHY \l 1033 PWC. (2014). IFRS and US GAAP: Similarities and Differences. 220. Retrieved from https://www.pwc.com/us/en/issues/ifrs-reporting/publications/assets/ifrs-and-us-gaap-similarities-and-differences-2014.pdf [...]
A company’s financial statements consist of the balance sheet, income statement, and statement of cash flows. The topic this week is the difference between GAAP and IFRS. Choose the financial statement that you consider most important to a business leader in Saudi Arabia. Search the SEU library or the internet for an academic or industry-related article. Select an article that relates to your financial statement choice and the differences between GAAP and IFRS. For your discussion post, your first step is to summarize the article in two paragraphs describing what you think are the most important points made by the authors (remember to cite the information, as appropriate). For the second step, include the reference listing with a hyperlink to the article. Please note, do not copy the article into your post and limit your summary to two paragraphs. Let me know if you have any questions. Enjoy your search.