Instructions International versus U.S. Accounting Standards For this assignment, you

  

Instructions

International versus U.S. Accounting Standards

For this assignment, you will research and compare international and U.S. accounting standards. This will enable you to see how the different reporting methods affect business and how product costs are affected by international business.

The learning objectives of this report are as follows:

  1. Compare      and contrast basic U.S. and international financial accounting standards.
  2. Explain      how key international factors affect business reporting.
  3. Identify      key compliance and regulatory requirements.

Prepare a four page written report with at least three scholarly sources covering the items listed below.

Introduction

Part 1: Select financial statements for two related (e.g., computer manufactures, pharmaceutical companies, cell phone companies, etc.) businesses; one that uses U.S. accounting reporting and the other that uses international accounting reporting. Identify the following items:

  • Provide      the name, location, and accounting standards used for each business.
  • Compare      and contrast three major differences you see in the way the financial data      is presented on the financial statements.
  • Identify      which set of financial statements you think is the easiest to understand and      provides you with most accurate cost data as a manager. (Do not forget to      look at the notes to the financial statements also.)

Part 2: Analyze and discuss three international factors you think would affect the cost of the products made at the companies you selected and why.

Part 3: Discuss any compliance and/or regulatory issues you think would be involved in the companies you have selected as they relate to the cost of the products made. For example, are there strict regulations on product pricing, tariffs imposed on raw materials needed to make the products, or strict regulations on the wages paid to workers?

Be sure to use APA formatting throughout.

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