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The first course which I would like to highlight will be MATH302 B009 Winter 2023. This course is based on statistical analysis and mathematical calculations. This course has made me learn about diver...

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Distribution throughout the supply chain is essential for meeting both supply and demand. Your distribution plan has to be flexible enough to adapt to shifting market conditions like supply chain brea...

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I would say that my ‘favorite’ tool, although it didn’t start as such, was learning about and using the value stream map. I saw this as a foundational tool when looking at our organizational work flow...

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Detect and Prevent Fraud on Financial Statement Module 8 Discussion

Detect and Prevent Fraud on Financial Statement Module 8 Discussion

Q Examine the differences and similarities between the U.S. GAAP and IFRS valuation methods on assets and liabilities. How could these differing methods affect the probability of fraud occurring in valuing assets and liabilities? How do the different valuation methods affect the results of auditing assets and liabilities, and what could be done to improve these auditing results?

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The chief differences between IFRS and US GAAP are mentioned below: ? Valuation of Inventory: FIFO, specific identification, LIFO, or weighted average cost is permitted by US GAAP. Carrying out of inventory is done at lower of market or cost. On the other hand, weighted average cost or FIFO is permitted by IFRS but does not permit LIFO. Carrying out of inventory is done at lower of net value realizable or cost. ? Impairment of Asset: impairment is two-step in US GAAP whereas impairment is a single step in the case of IFRS.