Before you move on to the second milestone, it is a good idea to implement the recommended changes or improvements from the previous milestone rather than waiting until the end of the course. For the second milestone, which is due this week, prepare a draft of the section of your final presentation that covers the topic of accounting standards. Your work should review the different reporting requirements for GAAP and IFRS. From there, you will make a decision about which reporting standard is best for your company, as well as which disclosure standards would be most appropriate. You will also provide an assessment of the convergence of GAAP and IFRS, including an explanation of the harmonization role provided by IASB. Finally, you will provide an analysis on how IASB impacts your company.
