Where are the main disclosure requirements for PPE, intangible assets, and inventories found in IFRS and in the Accounting Standards Codification?

Note: This page is a sample of sorts as it is formatted properly for your report. Each of the two reports should be a minimum of two pages in length and must be done in double line spacing with a maximum of 0 spacing before paragraphs and 6 Pt. spacing after paragraphs. Each of the assignments must be done in 12-point Times New Roman font with top, bottom, left and right borders of no greater than one inch. (This paragraph and page are formatted properly for your report.)

Your name and report title may appear on the first line of the report or may be presented on a separate cover page which is not included in the page count.

For use in both assignments, select three non-U.S. companies. At least two of the companies selected must use IFRS. (All three of your companies can use IFRS or, if you like, one of the companies can use local country GAAP or US GAAP.) In addition to the three companies you select, you will also need to obtain the current financial reports of Apple Inc. to be used for comparative purposes.

Note that this page is formatted properly for your report.

Assignment 1 – Financial Statements

The objectives of the assignment are to give you hands on experience examining the financial statements of companies that use IFRS and to introduce IAS 1, Presentation of Financial Statements.

Obtain the most recent Form 20-Fs for three non-US companies. At least two of the companies must use IFRS. (You may obtain this from the company’s website (investor relations) or from the SEC website (www.sec.gov).

1. Prepare a type-written response (Two pages minimum, 12 point font, double spaced, 1 inch margins, maximum length of 5 pages) – to be turned in and graded – addressing the following:

a. For each of your companies, identify what accounting standards the company uses (e.g., IFRS, local GAAP [name of country], U.S. GAAP)

b. For all of your companies that use either IFRS or U.S. GAAP, review the companies’ balance sheets to answer the following questions:[footnoteRef:1] [1: ]

i. Comparing the IFRS balance sheets to the balance sheet for Apple, are the IFRS balance sheet classifications the same as Apple’s U.S. GAAP balance sheet classifications? If different, which presentation do you believe is better? Explain why.

ii. What does IFRS (IAS 1) require for a particular presentation format or order of items on the balance sheet? Does this requirement agree with your observations? Discuss any differences.

iii. Comparing the IFRS balance sheets to one another, are the IFRS balance sheet classifications the same for each of the companies? Explain and provide details.

c. For each of your three companies, compare the reporting of comprehensive income with Apple. Discuss how it is presented by each company.

d. Do you believe that one presentation format for any or all of the financial statements should be required of all companies throughout the world? Explain why or why not.

Assignment 2 – Footnote Disclosure

The purposes of the assignment are to give you hands-on experience in the following: (a) locating certain information in accounting standards, (b) examining selected disclosures of companies that use IFRS.

Use the same three companies used for Assignment 1.

Prepare a type-written response (Two pages minimum, 12 point font, double spaced, 1 inch margins) addressing the following:

1. Where are the main disclosure requirements for PPE, intangible assets, and inventories found in IFRS and in the Accounting Standards Codification? (Provide detailed references.)

2. For each of the three companies, answer the following questions:

a. According to the footnote in which the company summarizes its significant accounting policies, discuss the method(s) each company uses for measuring its property, plant and equipment, intangible assets other than goodwill, and goodwill? What inventory valuation method does each company use? Basically, what do the notes say about these assets?

b. In which footnote does each company make its detailed disclosures about goodwill and other intangible assets? For each company, is the footnote number indicated on the face of the balance sheet? How many pages long is the goodwill footnote and basically, what does the note say about this assets?

c. Did any of the companies recognize any impairment charges against property, plant and equipment, goodwill or other intangible assets, and if so, how much? Did the company record any reversals of prior impairment charges, and if so, how much? Discuss, what the note says about impairment.

d. Do any of the companies report a revaluation surplus for any assets, and if so, were there any changes in the revaluation surplus? If so how much and what does the note basically say about it?


Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.