Action Items

Select an accounting issue (any)

Research the accounting issue. Locate at least 3 resources such as newspapers, business periodicals, and databases. Your textbook may not be one of your resources. Keep in mind that you are to cite your resources and list them in a reference list adhering to APA guidelines. If you need to refresh your APA knowledge, see the resources provided in Week 5 Reading and Preparation.

Create a 4-5 slide a presentation and a 1-3 page handout.The presentation slides are to include the following main points of your issue and your analysis:

The accounting issue you have researched.

A brief description (bullet points) of how your assigned accounting issue is handled under generally accepted accounting principles (GAAP) currently being used in the United States.

A brief description (bullet points) of how the handling of your assigned accounting issue would be different if the U.S. changes to an accounting system using International Financial Reporting Standards (IFRS). Once again, be sure to support your narrative with authoritative references using proper APA citation. You may (not a requirement) use a graphical representation of this difference.\

A brief analysis. Analyze and evaluate the potential impact this change from U.S. GAAP to IFRS would have on U.S. companies. This includes both the impact on specific amounts in the financial statements, in addition to the impact on various stakeholders associated with a company (e.g., creditors, investors, suppliers, management, employees, etc.). (HINT: Do a bit of research to find out what the experts are saying. And dont forget to properly cite your references). Again, you may (not a requirement) use a graphical representation to demonstrate your analysis

Your references. You must cite your references and adhere to APA guidelines.

The handout is to be a comprehensive explanation of:

The accounting issue you have researched.

A complete description of how your assigned accounting issue is handled under generally accepted accounting principles (GAAP) currently being used in the United States.

A complete description of how the handling of your assigned accounting issue would be different if the U.S. changes to an accounting system using International Financial Reporting Standards (IFRS). Once again, be sure to support your narrative with authoritative references using proper APA citation.

A comprehensive analysis. Analyze and evaluate the potential impact this change from U.S. GAAP to IFRS would have on U.S. companies. This includes both the impact on specific amounts in the financial statements, in addition to the impact on various stakeholders associated with a company (e.g., creditors, investors, suppliers, management, employees, etc.). (HINT: Do a bit of research to find out what the experts are saying. And dont forget to properly cite your references).

Your references. You must cite your references and adhere to APA guidelines.

Your handout is to adhere to APA guidelines, including citations and references. Keep in mind that, other than properly cited rules or quotes, the handout and the presentation are to be in your own words. Your references are part of the handout, but should be on a separate page in addition to the 1-2 pages for the handout.