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While this course is self-directed, it is important that you work on course assignments regularly to keep from falling behind and leaving the majority of the coursework until the end of the term. This week, continue completing Interactive Units. The Interactive Unit(s) that pertain to this week are, Unit 2:<\/strong> The Accounting Profession. You also participate in a Discussion related to the differences between GAAP and IFRS.<\/p>\n Photo Credit: [Rob Friedman]\/[E+]\/Getty Images<\/small><\/p><\/blockquote>\n The Interactive Unit(s) that pertain to this week are, Unit 2:<\/strong> The Accounting Profession.<\/p>\n <\/p>\n To access your Interactive Units for this week: <\/a><\/p>\n Accountants are responsible for following standards, conventions, and rules in order to ensure ethical accounting in their day-to-day practices. However, the rules in the United States vary from those followed in other countries. The United States uses what is called U.S. GAAP<\/em>. “GAAP” stands for Generally Accepted Accounting Principles<\/em>. Most of the rest of the world uses what is called International Financial Reporting Standards<\/em> known simply as “IFRS.” The United States is in the process of either converting or converging U.S. GAAP with IFRS.<\/p>\n To complete this Discussion:<\/strong><\/p>\n Post<\/strong> a response of at least 150 words in which you discuss the differences between GAAP and IFRS. As you write your post, consider the following:<\/p>\n Post<\/strong> one response to a classmate\u2019s post or to an Instructor follow-up post. As you write your response, consider doing the following:<\/p>\n Your response post should be a minimum of 150 words.<\/p>\n
\nInteractive Units<\/h1>\n
Interactive Units<\/p><\/blockquote>\n
\nDiscussion: Discuss the Differences Between GAAP and IFRS<\/h1>\n
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By Day 5<\/h4>\n
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By Day 7<\/h4>\n
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Submission and Grading Information<\/h4>\n
Grading Criteria <\/h5>\n