Ben and Ken told you (their manager) the company is in negotiations with a German company, who will be signing the documents next week to secure them as a client. They have requested to see your financial statements based on IFRS guidelines, prior to signing the agreement, since you will be holding inventory for them in your U.S. based warehouse facilities. Although the company that you manage is U.S. based, you will need to prepare for the variations in Accounting with GAAP & IFRS reporting. 

In your role, you must address how taking on an international client will impact financial reporting as well as how inventory reporting will vary as a result of GAAP & IFRS?

Answer the following:

1. Describe at least 2 ways taking on an international client impacts the company's financial reporting?
2. Explain to Ben & Ken at least one difference in inventory reporting of GAAP & IFRS.
3. Include an IFRS website to support your findings.