Question 1
A major way in which IFRS differs from GAAP that will affect the design of a company's general ledger and reporting system is an IFRS principle known as
◦ componentization.
◦ monetization.
◦ securitization.
◦ centralization.
Question 2
At a minimum, a switch to IFRS from GAAP will affect companies' accounting information system by
◦ requiring companies to increase the processing power of their existing accounting information systems.
◦ requiring IT departments to hire programmers that are fluent in languages besides English.
◦ requiring the creation of additional fields in research and development (R&D) records to capture information about the stage of research and development that costs are incurred in.
◦ requiring firms to completely redesign their existing accounting information systems because current systems are not compatible with IFRS accounting principles.
Urinary system
Trans-Alaska Pipeline System (TAPS) Crosses the Active Strike-Slip Denali Fault
Central Nervous System Stimulants That Are Scheduled Drugs
The human digestive system
Conduction system of the heart
Intermediate Accounting (Gordon/Raedy/Sannella)