Unit VII Case Study
Read the case study indicated below, and answer the following questions: Marianne, J. L. (2010). Accounting for business combinations and the convergence of International Financial Reporting Standards with U.S. Generally Accepted Accounting Principles: A case study. Journal of the International Academy for Case Studies, 16(1), 95-108.
2. Could any of the recent and forthcoming changes affect the company’s acquisition strategies and potentially its growth?
3. What were FASB’s primary reasons for issuing FAS 141R and FAS 160?
4. What are qualifying SPEs? Do they exist under IFRS? What is the effect of FAS 166 eliminating the concept of qualifying SPEs on the convergence of accounting standards?
5. If the company adopts IFRS, what changes should management be aware of?
6. What are the principle differences between IFRS and U.S. GAAP?
Your submission should be a minimum of three pages in length in APA style; however, a title page, a running head, and an abstract are not required. Be sure to cite and reference all quoted or paraphrased material appropriately in APA style.
If you were the CFO for a $10 billion-a-year international company headquartered in Ireland, which accounting rules would you recommend your company to follow: U.S. GAAP or IFRS? Are these rules comparable? What are the major differences between the two accounting standards? What was your rationale for choosing a rule?