Disclosures are an important part of the financial reporting package. Choose one note disclosure from the organization you are using for the individual research project. I use Microsoft Corp.

Examine the notes to the financial statements related to this disclosure. Discuss the methods the organization uses to account for accounts/statements impacted by this disclosure. In addition, are the methods used by the organization allowed under IFRS?

How has the FASB (and the SEC) addressed the contention that small firms incur significantly higher costs than large ones in carrying out complex accounting standards or disclosure requirements?