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Assignment Overview

The main purpose of this module is to review the balance sheet in more detail.

Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three specific differences. In addition, clearly

  • Distinguish between an expense (expired cost) and an asset.
  • Distinguish between current and long-term assets.
  • Distinguish between current and long-term liabilities.
  • Review Apple's balance sheet and provide two examples of each of the above categories.
  • Discuss retained earnings and how income or loss and dividends affect this account. Review Apple's retained earnings account and explain how it changes between the two past years.
  • Comment on at least three differences between Apple's and Samsung's balance sheets.
  • Does Apple or Samsung have more debt?
  • Which of the two companies is the bigger one? Explain your reasoning. 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M91388384
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