GAAP vs. IFRS for Hertz Rent a Car

A. Explain the steps that would be needed for your selected portfolio company to transition from GAAP to IFRS. For example, what would this

transition entail? What would your chosen company need to do?

B. Explain how a financial statement would differ under IFRS as opposed to GAAP.

i. How is a financial statement under IFRS different from GAAP? How is it the same?

ii. What would the statements for your chosen company look like?

SELECTED PORTFOLIO COMPANY IS {HERTZ RENT A CAR} Specifically, the following critical elements must be addressed: III. GAAP vs. IFRS A. Explain the steps that would be needed for your selected portfolio company to transition from GAAP to IFRS. For example, what would this transition entail? What would your chosen company need to do? B. Explain how a financial statement would differ under IFRS as opposed to GAAP. i. How is a financial statement under IFRS different from GAAP? How is it the same? ii. What would the statements for your chosen company look like? Guidelines for Submission: Prepare your paper using Microsoft Word. It should 3 pages in length, not including the cover page and reference page. Follow APA formatting guidelines using appropriate headings, double spacing, 12-point Times New Roman font, and one-inch margins. Support your arguments With at least three peer-reviewed sources cited in APA format. Comprehension-Demonstrates an understanding of course concepts in an organized and clear manner using rich and significant detail. 30 pts. GAAP vs. IFRS-Transition Meets \"Proficient\" criteria and provides keen insight on how the chosen company would implement these steps. 30 pts. GAAP vs. IFRS: Financial Statement- Meets \"Proficient\" criteria and explanation shows a nuanced understanding of the differences between IFRS and GAAP. 30 pts. Articulation of Response- Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to read format. 10 pts