At a Minimum,a Switch to IFRS from GAAP Will Affect

question 79

Multiple Choice

At a minimum,a switch to IFRS from GAAP will affect companies' accounting information system by

• A)requiring companies to increase the processing power of their existing accounting information systems.
• B)requiring IT departments to hire programmers that are fluent in languages besides English.
• C)requiring the creation of additional fields in research and development (R&D)records to capture information about the stage of research and development that costs are incurred in.
• D)requiring firms to completely redesign their existing accounting information systems because current systems are not compatible with IFRS accounting principles.

---

Definitions:

Incentives

Rewards or benefits offered to motivate employees or stimulate greater output or investment.

Servant Leadership

A leadership philosophy that emphasizes the leader's role as serving the needs of others, putting the well-being of their team and organization first.

Empowerment

The process of giving employees power and responsibility to make decisions and contribute to the organization's success, often leading to increased job satisfaction and productivity.

Reward Power

A form of power that is based on the ability to distribute rewards that others view as valuable.