Reveal Technologies: A Case Of Key Differences Between U.S. GAAP & IFRS And The Impact On Financial Performance Evaluation

Abstract

This case gives students the opportunity to apply their knowledge of the differences between U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) by making a series of adjustments to a company's U.S. GAAP basis account balances to reflect IFRS. Students then construct IFRS-based financial statements and compare financial performance measures for the company. Finally, students consider the effects of the different standards as a means of evaluating which gives more insight into the company's financial condition