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:

1. Discuss the four qualitative characteristics identified by the IASB.

1. Contrast and compare these qualitative characteristics with the qualitative characteristics identified by the FASB in SFAC No. 8.