Using at least 500 words.

6. Compare and contrast accounting for income taxes reporting standards of U.S. GAAP and IFRS. Use questions Q14-19 and 216-15 in the textbook as a guide in your discussion. Use in-text citations to support your research from the FASB and the IASB. Q 1419 IFRS If a company prepares its financial statements according to International Financial Reporting Standards, how would it account for convertible bonds it issues for $12.5 million? What is the conceptual justification? Q 16-15 IFRS IFRS and U.S. GAAP follow similar approaches to accounting for taxation. Nevertheless, differences in reported amounts for deferred taxes are among the most frequent between IFRS and U.S. GAAP. Why