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acc562 week 11 discussion 1

acc562 week 11 discussion 1 - Based on your analysis of the...

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Based on your analysis of the “Royal Ahold” case, respond to each of the discussion points: Suppose that the application of IFRS to a company’s financial data produces a higher net income for the company than the application of U.S. GAAP. Discuss whether or not it means that the U.S. GAAP-based net income figure is of “higher quality” than the net income figure yielded from IFRS. Discuss the factors that complicate an independent audit of a multinational company. Discuss the audit procedures that would likely have been the most effective for detecting the fraudulent accounting for U.S. Foodservice’s promotional allowances. Suppose that the application of IFRS to a company’s financial data produces a higher net income for the company than the application of U.S. GAAP. Discuss whether or not it means that the U.S. GAAP-based net income figure is of “higher quality” than the net income figure yielded from IFRS. A higher net income resulted from the application of IFRS to a company’s financial data doesn’t mean that the U.S. GAAP-based net income figure is of “higher quality” than the net income
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acc562 week 11 discussion 1 - Based on your analysis of the...

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