Examine the impact of the current IFRS proposal for leases referred to as the “right of use” on liabilities and operating income for companies. Next, state the corresponding implications on tax deferred assets and global tax planning.

-Examine the impact of the current IFRS proposal for leases referred to as the “right of use” on liabilities and operating income for companies. Next, state the corresponding implications on tax deferred assets and global tax planning.

-Analyze how the “receivable and residual” method will transform reporting requirements for lessors reporting under IFRS. Next, describe how this standard will impact income tax reporting in jurisdictions where the computation of taxable income is closely aligned with IFRS based statutory reporting.

-Identify at least two (2) strategies you would implement to reduce the potential impact of the proposed changes to your company.

-Evaluate the basic philosophy for the requirements specified for first-time adoption of IFRS. Next, discuss why exemptions to specific requirements are necessary.

-Analyze the changes with regards to financial instruments as a result of the study completed by the Financial Crisis Advisory Group (FCAG) after the 2008 Financial Crisis.

-Use at least three (3) quality academic resources in this assignment published within the past two (2) years. Note: Wikipedia and other websites do not qualify as academic resources.

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