Case 4-1: Bessrawl Corporation

Task:

Read and review the selected case study from the required text, and answer the analysis questions.

After reviewing the background section of the Bessrawl Corporation in your textbook, provide answers to the following questions:

Prepare a reconciliation schedule to convert 2014 income and December 31, 2014, stockholders’ equity from a U.S. GAAP basis to IFRS. Ignore income taxes. Prepare a note to explain each adjustment made in the reconciliation schedule.

From: Doupnik, T., & Perera, H. (2014). International accounting (4th ed.) (p. 178). New York, NY: McGraw-Hill Education