International vs U.S. Accounting Standards

For this assignment, you will research and compare international and U.S. accounting standards. This will enable you to see how the different reporting methods affect business and how product costs are affected by international business.The learning objectives of this report are as follows:    1.    Compare and contrast basic U.S. and international financial accounting standards.    2.    Explain how key international factors affect business reporting.    3.    Identify key compliance and regulatory requirements.Using the Research Report Template (attached), prepare a written report with at least three scholarly sources covering the items listed below.IntroductionPart 1: Select financial statements for two related (e.g., computer manufactures, pharmaceutical companies, cell phone companies, etc.) businesses; one that uses U.S. accounting reporting and the other that uses international accounting reportinIdentify the following items:    •    Provide the name, location, and accounting standards used for each business.    •    Compare and contrast three major differences you see in the way the financial data is presented on the financial statements.    •    Identify which set of financial statements you think is the easiest to understand and provides you with most accurate cost data as a manager. (Do not forget to look at the notes to the financial statements also.)Part 2: Analyze and discuss three international factors you think would affect the cost of the products made at the companies you selected and why.Part 3: Discuss any compliance and/or regulatory issues you think would be involved in the companies you have selected as they relate to the cost of the products made. For example, are there strict regulations on product pricing, tariffs imposed on raw materials needed to make the products, or strict regulations on the wages paid to workers?Conclusion and RecommendationsBe sure to use APA formatting and Include at least two of your scholarly resources in your report.Title of the Paper Goes HereStudent NameInstitutionInstructorDateAbstractThe abstract is an overview of the paper, written after completion. Other researchers use the abstract to determine if your work will be useful to them. The abstract should include the background, hypothesis or research question, methodology for data collection and analysis, the findings of your research, and conclusions. It should be between 100–150 words. This is done when the paper is complete.Title of PaperRemember this part of the paper is double spaced in APA format.The Introduction should lead readers into the topic and its importance. Introductions typically include the overalltopic of the paper, the specific focus of the paper within the larger topic, the main points in the paper, the kind of paper (study, argument, critique, discussion), and the purpose.Writing tip: The length of the introduction should be in proportion to the length of the paper. Also ask yourself, “With my purpose and my audience, how do I engage my readers best?” In the introduction, you set the tone of the piece, establish your voice, and demonstrate your writing style; be authentic to your purpose and your audience.Part 1 Financial Statement ComparisonIdentify the name, location, and accounting standards used for each of the two related businesses you selected.Compare and contrast three major differences you see in the way the financial data is presented on the financial statementsIdentify which set of financial statements you think are the easiest to understand and that provide you with the most accurate cost data as a manager. (Do not forget to look at the notes to the financial statements also.)Part 2 International FactorsAnalyze and discuss three international factors you think would affect the cost of the products made at the companies you selected and why.Part 3 Compliance/Regulatory IssuesDiscuss any compliance and/or regulatory issues you think would be involved in the companies you have selected as they relate to the cost of the products made. For example, are there strict regulations on product pricing, tariffs imposed on raw materials needed to make the products, strict regulations on the wagespaid to workers, etc.Conclusions and RecommendationsThe conclusion section should summarize for the readers the topics of importance that led to your final conclusions/analysis regarding this case. Include some specific areas of focus from your analysis to reinforce your conclusion.ReferencesInclude complete references in proper APA format for all of the citations listed in your paper. Be sure to use the library for the required number of sources. Additional sources can be used but should be scholarly. Present your references in alphabetical order.

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