Get help for Strayer-University ACC 563 . •From the first e-Activity, analyze the convergence of IFRS and GAAP as it relates to revenue recognition. Based on your analysis, recommend at least two (2) changes to revenue recognition that would improve financial reporting after the convergence. •From the second e-Activity, analyze the U.S. Security and Exchange Commission’s (SEC’s) position on convergence. Based on your analysis, predict if and when you believe the SEC would mandate the convergence for U.S. U.S. companies might respond to the mandate. Rules-based accounting results in more effective financial reporting than principle-based accounting. Provide a rationale for your response. •Assume that convergence becomes a reality. Predict the governing body that would be in control, and suggest the strategic way in which they will administer accounting standards in the future. •Analyze current major accounting research tools. Based on your analysis, suggest at least two (2) new tools that could improve accounting research.
Provide support for your rationale. Higher education is providing students with sufficient skills to enter the accounting profession and succeed. •From the e-Activity, analyze the most significant differences between IFRS and GAAP. Choose one (1) major difference, and propose one (1) solution to eliminate or mitigate potential negative impact on financial reporting that this difference might create. •From the e-Activity, predict the most substantial impact on your company’s balance sheet that IFRS and GAAP convergence could create. Provide support for your rationale. 1. Research the most important impact that the mission of the Emerging Issues Task Force (EITF) exerts upon the Financial Accounting Standards Board (FASB). Analyze the EITF’s effectiveness with finding resolutions to emerging accounting issues, and make at least two (2) recommendations as to how they could improve their effectiveness. 2. Research the issue you selected from the EITF’s “Description and Status of Current Issues” page, and analyze at least two (2) key areas being addressed by the EITF.
4. Create an argument either in favor or against the EITF recommendation(s) on the issue that you have selected. Provide support for your argument. 5. Analyze the different accounting treatments between GAAP and IFRS for the issue that you have selected, and make at least two (2) recommendations that would have a positive impact on the differences between treatments. 6. Predict the roles that the EITF and FASB would play, should the accounting profession adopt one (1) global set of accounting standards. 7. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources. •Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. •Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
The cover page and the reference page are not included in the required assignment page length. •Analyze the development process of accounting in the United States including the role of ethics in the profession and the movement toward international accounting standards. •Examine the conceptual framework for accounting including principle and rule-based accounting standards and the convergence process for the two different methods. •Examine research methodology and theories on the uses of accounting information including the relationship among research, education, and practice. •Use technology and information resources to research issues in advanced accounting theory. •Write clearly and concisely about advanced accounting theory using proper writing mechanics. •From the e-Activity, analyze the most important approach to working capital management. Create an argument that asserts that this approach is the least efficient method for managing working capital. Recommend at least two (2) improvements to managing working capital. Provide a rationale for your response.