When accountants work on the financial statements of U.S. companies with foreign subsidiaries prepared under IFRS in the home countries, the accountants do not convert the subsidiaries' financial statements to U.S. GAAP.

Question

Quizplus · Accepted Answer

Accountants typically convert the financial statements of foreign subsidiaries from IFRS to U.S. GAAP to ensure consistency and compliance with U.S. financial reporting standards.

When Accountants Work on the Financial Statements of U