All listed companies within the European Union will be required to prepare their consolidated financial statements using International Accounting Standards (IAS) by 2005. As the FASB and the IASB continue work on their joint project on convergence of FASB and IASB accounting standards, it is more important than ever to understand how IAS and U.S. GAAP intersect and diverge. In the following activities, you will examine the similarities and differences between IAS and U.S. GAAP and how financial and reporting processes are affected.

Chapter 1: Accounting Foundations
Chapter 2: Financial Reporting: The Cornerstone of a Market Economy
Chapter 3: The Income Statement and Comprehensive Income Disclosures
Chapter 4: The Balance Sheet
Chapter 5: The Statement of Cash Flows and Other Significant Financial Disclosures
Chapter 6: Revenue Recognition
Chapter 7: Cash and Receivables
Chapter 8: Inventory
Chapter 9: Operating Assets: Acquisition, Cost Allocation, Impairment, and Disposal
Chapter 10: Intangible Assets
Chapter 11: Investments: Debt and Equity Securities
Chapter 12: Current Liabilities and Contingencies
Chapter 13: Accounting for Long-Term Liabilities: Bonds and Notes Payable
Chapter 14: Accounting for Leases
Chapter 15: Pensions and Postretirement Plans
Chapter 16: Accounting for Income Taxes
Chapter 17: Stockholders' Equity
Chapter 18: Dilutive Securities and Earnings per Share
Chapter 19: Revisiting the Statement of Cash Flows