Comparing IFRS to GAAP Powerpoint Presentation

Create  2 slides , including detailed speaker notes that act as the script of the presentation or a voiceover, of an analysis of IFRS versus GAAP accounting. Include the following in the presentation of your team’s discussion regarding IFRS versus. GAAP. The summary should be structured in a subject-by-subject format. Your discussion should include the answers to the following:

IFRS 9-3: Some product development expenditures are recorded as development expenses and others as development costs. Explain the difference between these accounts and how a company decides which classification is appropriate. Give an example or Scenario.(2 slides. Exclude Intro & conclusion slides)

Answer from other resource: “Companies that utilize GAAP standards are required to expense all research and development costs by reporting them on the income statement. In contrast, IFRS only places this requirement on research costs. Once technological viability has been reached, it is optional for a company to start reporting development costs as capital expenditures. This allows the costs to be depreciated over the useful life that the technology provides (Brice, 2009).”