accounting methods and how the IFRS / GAAP convergence will
impact your business.
3. Suggest how you will incorporate any changes into your books
and records. (Note: You need to demonstrate to the lender/investor that
you have recognized possible changes to GAAP that may impact the
accounting and reporting of your accounting events.)
4. Prepare a pro forma balance sheet and income statement
providing the assumptions made and support the valuations assigned.
5. Considering the value of assets (assigned per your balance sheet)
used within your business, recommend two (2) specific internal
controls that you will implement to protect your company’s assets and
resources, justifying how each will provide assurances to management.
(NOTE: Safeguarding assets and protecting personal data are
paramount to ensuring the viability of a business.
6. Demonstrate to the lender/investor that your assets will be
safeguarded and customer information (if applicable) will be
protected.)
7. Based on the internal control recommendations that you made,
suggest how you will implement each within your business
environment, indicating how challenges or resistances will be
overcome.
8. Evaluate the impact of the regulatory environment, including the
Sarbanes-Oxley Act and other regulatory requirements, on your
business venture, giving considering to how you intend to comply with
the requirements and the general impact to decision making within
your business.