(Answered) In a us-headquartered multinational corporation all

Accounting

In a U.S.-headquartered multinational corporation, all subsidiaries that are publicly listed in the European Union must comply with IFRS beginning January 1, 2005. So EU subsidiaries will submit IFRS statements to the parent, which may have to convert them to U.S. GAAP for inclusion in its consolidated financial statements. What are some important decisions that must be made when a company transitions to IFRS?

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