Holmes Institute HI5025 Memo 01 – Semester 02, 2015 Background:
Mr. Dewey, a Senior Partner of the CPA firm Dewey, Cheatem, & Howe (DCH) has heard that there are two competing international financial reporting standards one that is called International Financial Reporting Standards (IFRS) and another called US GAAP.
Required:
Mr. Tu. Dewey wants you to research these two standards and in a 1⁄2 to 11⁄2 page memo list and explain their differences and give insight as to which is likely to dominate world accounting.
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