Unformatted text preview: range ($30,000). Under IFRS TinyPart would recognize a loss and accrue a liability for the mid-point of the range ($40,000). AACSB: Analytic AACSB: Diversity AICPA BB: Global AICPA FN: Measurement Blooms: Analyze Difficulty: 2 Medium Learning Objective: 13-07 Discuss the primary differences between U.S. GAAP and IFRS with respect to current liabilities and...
View Full Document
- Spring '11
- Balance Sheet, Generally Accepted Accounting Principles, International Financial Reporting Standards, appropriate accounting treatment