order paper  
more phones
Academic writing services  
Custom written essay Book report Research paper Dissertation Resume and CV Editing and proofreading  
main menu
By ordering custom paper you get
  • 24/7 Support
  • Over 100 professional US Writers
  • 300 words per page
  • Flexible discount system
  • FREE revision (within 2 days)
  • Anti-Plagiarism Software Check
we accept
sample essays
Accounting Essays
Admission Essays
Analysis Essays
Art Essays
Biography Essays
Biology Essays
Book Review Essays
Business Essays
Case Studies Essays
Cause and Effect Essays
Character Analysis Essays
Communication Essays
Communication and Media Essays
Compute Technologies Essays
Consideration Essays
Controversial Essays
Description Essays
Economics Essays
Education Essays
Evaluation Essays
Explanation Essays
History Essays
Job Essays
Law Essays
Management Essays
Medicine Essays
Music Essays
Personal Essays
Personal Experience Essays
Persuasive Essays
Persuasive Speech Essays
Philosophy Essays
Political science Essays
Politics Essays
Proposal Essays
Psychology Essays
Reflective Essays
Religion Essays
Research Essays
Response Essays
School Essays
Science Essays
Sociology Essays
Technology Essays
World Literature Essays
IFRS Assignment essay
← FASB Takes up Insurance Accounting Accounting →

IFRS Assignment. Custom IFRS Assignment Essay Writing Service || IFRS Assignment Essay samples, help

Live Chat
The International Financial Reporting Standards (IFRS) and the U.S Generally Accepted Accounting Principles (GAAP) have for a long time reflected varying approaches in the reporting standards of earnings from business and assets. IFRS primarily provides specific objectives meant for financial statements, the respective qualitative characteristics, relative conceptual dynamics in capital maintenance, and other key elements entailed in the provision of financial statements (Fay et al, n.d). The U.S GAAP on the other hand primarily derives its operational instruments from entities such a historical cost, realizable value, current cost and present value with no bias on a specific mode of approach (Fay et al, n.d). In a bid to establish a common framework, this has necessitated the establishment of a convergence effort with an aim of relative standardization of the respective principles seen in both cases. As a result, it is important to conduct an assessment of the different operational principles seen in IFRS and GAAP against the proposed convergence framework proposed by International Accounting Standards Board, in order to establish the relative effect upon earnings management with regard to the reporting of cash, receivables, depreciation and impairment of assets.First, on account of cash and receivables, International Financial Reporting Standards (IFRS) reports any bank overdrafts in the respective cash and cash equivalents domain on condition that they are payable back depending on the impending demand, which forms a critical component in IFRS cash management (Fay et al, n.d). The U.S Generally Accepted Principles (GAAP) generally offset any bank overdrafts against the holder's bank account, but this requirement is uplifted only if the account holder has significant balance in another account with the bank, which serves to offset the overdraft (Fay et al, n.d).  Therefore, IFRS's inclusion of loans and receivables provides a more stable framework for higher earnings management, while the U.S GAAP lack of reporting of trade account receivable and loans receivable presents significant risk to higher earning management despite the existence of the offsetting facility.
Order now
Secondly, on account of subsequent valuation of assets, the IFRS allows component depreciation subject to the availability of varying patterns of benefit; hence, this allows an asset to be accounted for during its different useful lives (Fay et al, n.d). However, should the carrying value of the asset become unrecoverable this is registered as a write off (Fay et al, n.d). The U.S GAAP gives significant freedom in the choice of depreciation method but takes into account the changes in circumstance that may show a negative value. The U.S GAAP also reports an asset as being impaired should the future cash flows value be less than the carrying value (Fay et al, n.d). The IFRS provides a better framework for reporting depreciation by virtue of its focus on useful lives of the asset, which presents a suitable assessment in terms of asset valuation, a factor critical in earning management. Moreover, the component of impairment provides a point of convergence for both reporting standards.  
Type of assignment Title of your paper Writer level Pages
Timeframe Currency Spacing Total price
Finally, it is evident that the IFRS and U.S GAAP present significantly varied standards of reporting of cash and receivables and reporting of depreciation and impairment of assets. Reporting of cash and receivables forms a critical component in the understanding of earnings management, which includes depreciation and impairment. In the present world of business, the issue of financing of business entities and the subsequent valuation of their assets forms a key element in earnings management. According to the assessment, both the U.S GAAP and IFRS posses advantages and disadvantages in reporting these key domains, which necessitates there convergence. Therefore, subject to the occurrence of similarities, for instance, as seen in the reporting standards for the impairment of assets, provides significant linkages between IFRS and U.S GAAP, and supports the International Accounting Standards Board's pursuit for the establishment of a convergence framework.

IFRS Assignment. Custom IFRS Assignment Essay Writing Service || IFRS Assignment Essay samples, help

Order Now
Order nowhesitating

Related essays

  1. Accounting
  2. Regression Analysis
  3. FASB Takes up Insurance Accounting

order now

Order now
why choose us
96% of satisfied returning customers
24/7 customer support
A wide range of services
Up-to-date sources
100% privacy guaranteed
MA/PhD writers
Custom written papers only
Free plagiarism report
Free revision (within 2 days)
Free extras by your request
Direct communication with a writer
Are your writers qualified for the custom writing?
How quick can my order be accomplished?
Is it legal to buy custom essays, term papers or book reports from your company?
Are essays offered by your company truly custom-written?
Is it safe to buy from SupremeEssays.com?
How secure is the payment system of your company?
Can I submit custom essays or term papers done by your company as my own?
How can I contact your company if I've got problems with my ordered paper?

Finally, I've found the real custom writing service . My grades are saying "Thank you, it's been a pleasure to work with you."

Jamal, South Africa

I can't believe you finished my essay under such a short deadline! You saved me from a disaster once again. You guys deliver exactly what you promise. I'll be back. That's for sure!

William H , Kansas, US

contact us
Toll free for US & Canada only. International callers are charged for outgoing calls.

Our phone numbers:
Toll free 1(877)801-5587
Call now 1(702)418-3797
SupremeEssays.com provides custom term paper writing/rewriting services inclusive of research material for assistance purposes only. The term papers should be used with proper reference and are not meant to replace actual assignments.

Get 15% off your first custom essay order

Order now

from $12.99/PAGE