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IFRS verses GAAP

Gabriel Whatley

ACC/290

March 28, 2016
Steven McAlister

IFRS verses GAAP

International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB), (Rouse, 2011). While, GAAP (generally accepted accounting principles) is a collection of commonly-followed accounting rules and standards for financial reporting. Even though IFRS is a set of accounting standards and GAAP are sets of accounting rules and standards they do differ from each other.

Level One Heading Replace the level one heading with the words for your heading. The heading must be in bold font. Headings help your audience track the sub-topics discussed in the body of the essay or report. Begin a new heading for each sub-topic. Be sure to indent the first line of each paragraph between five and seven spaces by pressing the Tab key one time on the keyboard. In addition, remember to double space the entire paper using the double space functionality in Word. This template is already formatted for double spacing. Read more: Center for Writing Excellence>Tutorials and Guides>Software Tutorials and Guides>Formatting Tutorial for APA. In addition, keep in mind an academic essay should contain at least five paragraphs, which includes the introduction (introductory paragraph), the body (which is generally at least 3 paragraphs), and the conclusion (generally one paragraph). Most well-developed paragraphs contain at least 3-5 sentences, one of which is the topic sentence. Limit each body paragraph to one main idea.

Conclusion The closing paragraph is designed to bring the reader to your way of thinking if you are writing a persuasive essay, to understand relationships if you are writing a...

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