Revaluation model which uses the fair value of the

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revaluation model, which uses the fair value of the assets at the time of valuation less any accumulated depreciation and impairment losses (Thornton, 2017). This is all something that would have to change in how Amazon handles intangibles and fixed assets. In conclusion, Amazon would not have to hard of time transitioning to IFRS from GAAP because they are already a multi-national entity. Amazon is already familiar with the difference between IFRS and GAAP. In the future for overall world economic growth, switching from IFRS to GAAP should be required by the United States. Foreign investor could be attracted by having the means of a reporting standard for all entities, so they can analyze U.S. entities against other world entities for investment opportunity.
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GAAP to IFRS 5 References Peavler, R. (2017). IFRS and FASB – What are Financial Reporting Standards? The Accounting Standards and Standard Setting Bodies. Retrieved from http://thebalance.com/ ifrs-and-fasb-what-are-financial-reporting-standards-392948 Thornton, G. (2017), Comparison between U.S. GAAP and International Financial Reporting Standards. http://www.grantthornton.com. Retrieved from https://www.grantthornton.com/library/whitepapers/audit/2017/comparison- US-GAAP-IFRS.aspx Wahlen, J.M., Jones, J.P, & Pagach, D.P. (2015). Intermediate Accounting Reporting and analysis, 2 nd Edition. Boston, MA: Cengage Learning. United States Securities and Exchange Commission Form 10-Q for Amazon.Com, INC. (September 30, 2017). http://phx.corporate-ir.net. Retrieved from http://phx.corporate-ir.net/phoenix.zhtml?c=97664&p=irol-reportsother
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