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1.Classified balance sheet format under GAAP also makes use of classifications, such as current assets, PP&E, investments, intangible assets, etc. In view of this, what

1.Classified balance sheet format under GAAP also makes use of classifications, such as current assets, PP&E, investments, intangible assets, etc.

In view of this, what are the advantages of the IFRS format for the balance sheet, in your opinion?

2.Please identify at least two situations in which application of different accounting methods or accounting estimates results in problems comparing companies financial information. Are there any examples from your workplace?

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