International Financial Reporting Standards (IFRS).Do an Internet search for information on IFRS. Visit at least two Web sites, including the International Accounting Standards Board, and respond to the following questions about IFRS:
a. Compare and contrast the IFRS framework with the FASB conceptual framework discussed in Chapter 1. List three similarities and three differences between the two.
b. Choose two countries that have adopted IFRS. If an organization had operations in both countries, how would you communicate that fact in their chart of accounts?
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