Week 4 Individual Assignment
Week 4 Individual Assignment
Write a 700- to 1,050-word response to the questions located at the end of the following case:
Case 3-5 International versus U.S. Standards (page 114)
Format your paper consistent with APA guidelines.
Case 3-5 International Versus U.S. Standards
The International Accounting Standards Committee’s Framework for the Preparation of Financial Statements identifies four primary qualitative characteristics.
Required:
a. Discuss the four qualitative characteristics identified by the IASB.
b. Contrast and compare these qualitative characteristics with the qualitative characteristics identified by the FASB in SFAC No. 8.