You will identify a multinational company from Securities and Exchange Commission (SEC) EDGAR Web site (https://www.sec.gov/edgar/searchedgar/webusers.htm) has inventory in their books. Prepare and pr

Pronouncement

Describe what the company is currently doing under GAAP.

What changes will occur under IFRS?

How will the transition to IFRS impact the company?

IFRS 1: First-time Adoption of International Financial Reporting Standards

IFRS 15: Revenue from Contracts with Customers

IAS 1:Presentation of Financial Statements

IAS 7: Statement of Cash Flow

IFRS 13:Fair Value Measurement

IAS 2: Inventory Accounting

IAS 16: Property, Plant and Equipment

IFRS 9: Financial Instruments

IAS 12: Income Taxes

IAS 17: Leases

IAS 10: Events After the Reporting Period