Assume they do go public and are registered with the SEC. If CMC justifies a change in accounting method as preferable under the circumstances, and the circumstances change, can they switch back to the prior method of accounting before the change? Why or why not? How do IFRS differ from GAAP regarding accounting changes? Are there any major issues? Memorandum Mechanics should be as follows: The body of the memorandum should be a professional presentation centered on clear and concise writing. The responses to the questions should be detailed, well researched, and specifically related to CMC's industry. The memorandum itself does not have to be in APA format. However, you should have in-text citations and a reference page. Both of these items should be in APA format. Use the FASB Codification and IFRS to address all technical accounting issues presented in the questions, being certain to reference the applicable sections of the Codification and IFRS in your report. You may quote directly from the Codification and IFRS as long as all direct quotes are included in quotation marks. Any other sources used to support your responses should similarly be properly documented. You should have other credible sources in addition to the Codification and IFRS.
Assume they do go public and are registered with the SEC. If CMC justifies a change in accounting method as preferable under the circumstances, and the circumstances change, can they switch back to the prior method of accounting before the change? Why or why not? How do IFRS differ from GAAP regarding accounting changes? Are there any major issues? Memorandum Mechanics should be as follows: The body of the memorandum should be a professional presentation centered on clear and concise writing. The responses to the questions should be detailed, well researched, and specifically related to CMC's industry. The memorandum itself does not have to be in APA format. However, you should have in-text citations and a reference page. Both of these items should be in APA format. Use the FASB Codification and IFRS to address all technical accounting issues presented in the questions, being certain to reference the applicable sections of the Codification and IFRS in your report. You may quote directly from the Codification and IFRS as long as all direct quotes are included in quotation marks. Any other sources used to support your responses should similarly be properly documented. You should have other credible sources in addition to the Codification and IFRS.
