the GAAP standards accounting homework help

the GAAP standards accounting homework help

In business today, the end result is to generate cash flows the company can use for future growth, to meet current and long-term obligations, or to return to the owners. You will discover under current GAAP standards, the balance sheet has assets listed in order of liquidity. Under IFRS, cash is listed last because it is considered the result of being in business, which follows the income statement mentality.

In your opinion, which location is the better location for reporting cash on the balance sheet? Explain why you selected that location.

Provide specific details to support your opinion in your response.