Difference between IFRS and GAAP Name: Institution: The balance sheet is a fundamental component of any financial statement for both profit or non-profit organizations. The KAS (Kingdom of Saudi Arabia) is ready to join 130 other nations across the world in adherence to IFRS (international financial reporting standards).IFRS of Accounting Financial Reporting and Public Policy: Eurasia the Middle East and Africa. Bingley: Emerald Group Publishing. Nurdin G. (2011). International Business Control Reporting and Corporate Governance: Global business best practice across cultures countries and organisations. Oxford: Butterworth-Heinemann. Sale J. T. (2007). Advances in International Accounting. Amsterdam: Elsevier. [...]
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.