While IFRS is not currently applicable in the United States, there is mounting pressure on the SEC to accept the

standards in one form or another. MSF practitioners need to be aware of the growing influence of IFRS outside

the United States. For example, foreign companies listed on U.S. exchanges need to reconcile IFRS-based

numbers with U.S. GAAP.

The FASB is currently involved in a joint project with the IASB-called the ?convergence? project-that aims to

eventually eliminate all differences between the two sets of standards. Considerable progress has been achieved

to date in this direction.

In terms of understanding competitiveness and collaboration in a global economy, research, explore, and

discuss the ?Norwalk Agreement? between the FASB and the International Accounting Standards Board

(IASB). What are the key initiatives of the Norwalk Agreement to further the goal of the convergence of U.S.

GAAP with International Financial Reporting Standards?

In a paper, discuss the joint projects being conducted with the IASB to address Revenue Recognition and

Business Combinations.

You must use at least 2 peer-reviewed articles that are located in the Kaplan Library and adhere to APA format.

Submit your Assignment to the Assignment 2 Dropbox.

Assignment Grading Rubric Course: GF530 Unit: 6 There are two assignments in this Unit. Assignment 1: Textbook problems (see the grading rubric in the icon below) Chapter 11, Problems 11.4, 11.5 and 11.6 Chapter 12, Problems 12.2 and 12.6 Chapter 12, Problems 13.2 and 13.6 Any calculations should be done in Excel and pasted into the Word document using the \"Paste Special-Excel Worksheet Object\" feature. This will allow the instructor to double click on the students work to see the formulas and calculations used to answer the selected problems. All work must be shown. No credit will be given for the correct answer alone. Reference the grading rubric in the icon below. One Word file, including a title page, should be submitted to the Unit 6 Assignment 1 Dropbox by the end of Unit 6. Rubric Grading Rubric: Points are earned based on critical thinking, analysis, and correct and thorough responses to the following: Possible Points Points Earned 55 Grammar and Writing Style 5 Total Points 60 Chapter 11, Problems 11.4, 11.5 and 11.6 Chapter 12, Problems 12.2 and 12.6 Chapter 12, Problems 13.2 and 13.6 Assignment: Paper Using the Kaplan Library and resources, conduct research and write a 2-3 page paper addressing the following Topic: International Financial Reporting Standards. Use the rubric in the icon below to write your paper. International Financial Reporting Standards (IFRS) are formulated by the International Accounting Standards Board (IASB), which is a body representing accountants and other interested parties from different countries. Copyright Kaplan University Assignment Grading Rubric Course: GF530 Unit: 6 While IFRS is not currently applicable in the United States, there is mounting pressure on the SEC to accept the standards in one form or another. MSF practitioners need to be aware of the growing influence of IFRS outside the United States. For example, foreign companies listed on U.S. exchanges need to reconcile IFRS-based numbers with U.S. GAAP. The FASB is currently involved in a joint project with the IASB-called the \"convergence\" project-that aims to eventually eliminate all differences between the two sets of standards. Considerable progress has been achieved to date in this direction. In terms of understanding competitiveness and collaboration in a global economy, research, explore, and discuss the \"Norwalk Agreement\" between the FASB and the International Accounting Standards Board (IASB). What are the key initiatives of the Norwalk Agreement to further the goal of the convergence of U.S. GAAP with International Financial Reporting Standards? In a paper, discuss the joint projects being conducted with the IASB to address Revenue Recognition and Business Combinations. You must use at least 2 peer-reviewed articles that are located in the Kaplan Library and adhere to APA format. Submit your Assignment to the Assignment 2 Dropbox. Grading Rubric: Points are earned based on critical thinking, analysis, and correct and thorough responses to the following: Copyright Kaplan University Possible Points Points Earned Assignment Grading Rubric Course: GF530 Unit: 6 50 Grammar and Writing Style 10 Total Points 60 Write a review of the following article available in the Kaplan Library: In terms of understanding competitiveness and collaboration in a global economy, research, explore, and discuss the \"Norwalk Agreement\" between the FASB and the International Accounting Standards Board (IASB). What are the key initiatives of the Norwalk Agreement to further the goal of the convergence of U.S. GAAP with International Financial Reporting Standards? Discuss the joint projects being conducted with the IASB to address Revenue Recognition and Business Combinations. You must use at least 2 peer-reviewed articles that are located in the Kaplan Library and adhere to APA format. Copyright Kaplan University