Using (GAAP) GM and Audi (IFRS) For one of the advanced accounting topics in this course, do further research into the applicable standard for IFRS and for U.S. GAAP. Topics may include foreign currency translation in highly inflationary countries, foreign currency transaction hedging, investments in associates (equity method and/or joint ventures), business combinations, consolidation and non-controlling interests). Examples of some topics are in the FASB AND IFRS RESEARCH CASE QUESTIONS in Chapters 3 and 4 (p. 139 and p.196). Chapters 2, 3, 4, 9 and 10 contain sections that compare US GAAP to IFRS for each topic without specific references. Quote portions from each standard and then explain the standards in your own words. Where are the U.S. GAAP and IFRS standards specifically similar and different? Cite which paragraphs of the standards were used. Access to the online database eIFRS is available to students for $20 under from the IAAER (www.iaaer.org, click on link to join for access to eIFRS). Get access to FASB Accounting Standards Codification site through Manhattan College (http://aaahq.org/ascLogin.cfm. The student User ID is AAA52116 and the password is (case sensitive), Note that the FASB standards under codification are MUCH easier to search and are coded more plainly (examples: US GAAP 840-10-25-3 is for leases, sales-leaseback, recognition of profit, and by lessons respectively; in eIFRS this transaction is explained in IAS 17, paragraphs 58-66) (3 points).