International Accounting Standards

Prior to beginning work on this discussion forum, read Topic 6 International Accounting Standards in Appendix A in the course textbook, Using Financial Accounting. Next, review the Walmart Case Study.

Compare and contrast the differences in the Walmart financial statements if the company were to use International Financial Reporting Standards (IFRS) rather than Generally Accepted Accounting Principles (GAAP). Be sure to discuss specific accounting differences between the two.

Debate the pros and cons this would create for Walmart. Be sure to be specific and support any opinions.

Describe any legal or ethical challenges this convergence may create using the country you selected in prior courses.

Your initial response should be a minimum of 200 words. Graduate school students learn to assess the perspectives of several scholars. Support your response with at least two scholarly resources in addition to the text. Cite your sources in APA Style with in-text citations and a reference list. The Writing Center’s APA: Citing Within Your PaperLinks to an external site. and APA: Formatting Your References ListLinks to an external site. provide instructions and examples.