Discuss the following six essay questions in 250-300 words each using at least one internet source for each question.
US GAAP follows the Historical Cost Concept in valuing the cost of long-term assets. Explain this principle and how it compares to the standards used in the reporting of long-term assets under International Financial Reporting Standards (IFRS). If there is a convergence of standards, which method do you believe should be used and why?
Discuss the advantages and disadvantages of the following types of financing:
1. Issuing bonds
2. Borrowing from the bank
3. Equity financing
Provide an example of how a public company has relied more on one method of financing than the others and why it has done so.
Discuss the differences between the indirect and direct methods of preparing the statement of cash flows. What do you believe are the most significantadvantages and disadvantages of using each method? Explain your reasoning.
Discuss the efficient market hypothesis. Explainwhyfinancial statement analysis can or cannot be performed in a way that provides a significant advantage to an investor.
Identify a real-life outsourcing decision that has been made. Identify the specific reasons for the outsourcing. If information is available, discuss the results of the outsourcing decision (jobs lost, cost savings, etc.). Cite sources as deemed necessary.
Identify the costs and benefits to a company of gathering, reporting, and disclosing non-financial information (e.g., balanced scorecard, corporate social responsibility reporting, sustainability reporting, etc.).