Subject : Accounting Theory Case 6a (5%) Describe the benefits of Global Adoption of International Financial Reporting Standards (IFRS) Case 6b (15%) Access the financial statements form the most recent annual report of a foreign company and a domestic company with which you are familiar to complete these instructions as follow (use companies to compare within the same industry). Instructions:

 a. Determine the accounting principles (US GAAP) that domestic companies use to prepare financial statements.

b. Determine whether