Wridemy Plagiarism Free Paper Writing Website. Visit us here Wridemy
Competencies Evaluate the reasons business combinations occur and the accounting implications of such transactions. Critique the development of International Accounting Standards and the implications for US corporations. Measure the accounting for foreign currency and its translation. Assess the proper accounting for transactions with respect to deferred taxes and leases using the accounting codification and other accounting research tools. Justify the proper accounting for transactions with respect to accounting changes and error corrections using the accounting codification and other accounting research tools Evaluate the proper accounting for transactions with respect to interim and segment reporting using the accounting codification and other accounting research tools.ScenarioSwift Cycles is a publicly held, mid-sized manufacturer, with $40 million dollars in annual revenue. Swift has been producing high-end custom cycles currently in the US for the past ten years. Swift has decided to start operations in various locations in Europe in the next five years. In a recent board meeting, the CEO and CFO faced difficult questioning from outside members of the board regarding the impact that adoption of International Financial Reporting Standards might have on the company. Both officers lack a depth of knowledge on the subject and their preparedness for the changes that may be presented.The CFO has asked you as the Controller to do some preliminary research about the possible transition from US GAAP principles to IFRS standards. The company is publicly held; therefore, it must follow all reporting requirements of the Securities and Exchange Commission (SEC).Prepare an analysis and presentation of the impact that adoption of International Financial Reporting Standards would have on the company’s financial statements and its investors. Also, prepare an analysis and operational plan of how this adoption may be accomplished by the company.InstructionsAnalysis of Adopting IFRS:Create an executive summary that analyzes the impact that adoption of International Financial Reporting Standards would have on Swift’s financial statements and its investors. For your analysis, consider that IFRS will be adopted in their current form. Consider the effects on each of the account groupings (such as foreign currency transactions, deferred taxes, and leases in different countries) for each of the financial statements (balance sheet, income statement, change in equity statement, and statement of cash flows). Explain the implications of consolidating reporting to the parent company versus segment reporting over major areas of the company.Operational Plan:Within the executive summary, write a proposal that provides an operational plan of how this adoption may be accomplished in the company. Consider the following in your Operational Plan: Resources. What policies and procedures should be modified in order meet IFRS requirements? How the project should be managed. What organizational structures, policies, or procedures should be in place to ensure that the implementation is ethical and compliant with all IFRS requirements?Presentation to the Executive Board:For the executive leadership team, create a PowerPoint presentation, 5-10 slides, including slide notes to summarize the essential information regarding the impact of the adoption of IFRS on financial statements and investors of the company, which includes the information from the operational plan. At the end of your executive summary, give your strongest recommendation on the convergence to IFRS.Use the FASB Codification and IFRS to address all technical accounting issues presented in the questions, being certain to reference the applicable sections of the Codification and IFRS in your report.Any other sources used to support your responses should similarly be properly documented. You should have other credible sources in addition to the Codification and IFRS.
The post Competencies Evaluate the reasons business combinations oc appeared first on Wridemy. Visit us here Wridemy for plagiarism free papers.
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.