The article discusses issues related to the proposed transition from the generally accepted accounting principles (GAAP) to international financial reporting standards (IFRS) in the U.S. It says that the move from GAAP to IFRS appears to have been fast-tracked. According to Sue Haka, president ...
In addition, on 28 June 2015, Palistar processed the sale of $800,000 of goods to Stretcher, which Stretcher did not account for until their receipt on 2 July 2015. The in-transit reconciliation should be achieved by assuming the transaction had been recorded in the books of Stretcher befor...