Final Project Essay

588 Words Jun 23rd, 2016 3 Pages
ACC 610 Milestone One Guidelines and Rubric
This is the first of three milestone assignments that will lead to completion of your course project. In this assignment, you will complete Critical Element III: GAAP vs. IFRS. Recall that, due to the sequencing of content for the modules, the critical elements are being prepared out of order. For the complete sequence, see the
Final Project Guidelines and Rubric document.
This milestone addresses the following course outcome:


Differentiate between the Generally Accepted Accounting Principles and the International Financial Reporting Standards for their impact on financial statements. If you have not already done so, select the company that you will use to build your portfolio. For
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IFRS:
Transition

Meets “Proficient” criteria and provides keen insight on how the chosen company would implement these steps

Explains the steps that would be needed for the chosen company to transition from
GAAP to IFRS

GAAP vs. IFRS: Financial
Statement

Meets “Proficient” criteria and explanation shows a nuanced understanding of the differences between IFRS and
GAAP
Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-toread format

Explains how a financial statement would differ under
IFRS as opposed to GAAP

Articulation of
Response

Submission has no major errors related to citations, grammar, spelling, syntax, or organization

Explains the steps that would be needed for the chosen company to transition from
GAAP to IFRS but explanation lacks depth or detail
Explains how a financial statement would differ under
IFRS as opposed to GAAP but explanation lacks depth or

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