Describe in an appropriate level of detail the differences that resulted when you recasted your chosen financial statements from the IFRS to US GAAP,

Option #1: Mercedes Benz

Below is the Mercedes Benz (MB)’s 2018 Annual Report prepared under IFRS:

• Daimler: Annual Report 2018 (Links to an external site.)

Pick any two of the financial statements: the consolidated balance sheet (statement of financial position), the consolidated income statement (statement of income or statement of comprehensive income), or the statement of cash flows for MB. Recast the two selected financial statements and present the statements following/in accordance with the US GAAP, presentation-wise, as accurately as you can (you do not need to restate any of the results for MB in this process — just work with the results as presented). The recasted financial statements should be an Exhibit or Appendix to your paper. Describe in an appropriate level of detail the differences that resulted when you recasted your chosen financial statements from the IFRS to US GAAP, supported with references from the readings in this module or outside references, where appropriate.
Requirements:

• Write a paper of 3-4 pages in length, not counting the title and reference pages, which you must include.
• The recasted financial statements should be an Exhibit or Appendix to your paper.
• Use terms, evidence, and concepts from class readings, including professional business language.
• Cite at least 3 credible, academic or professional sources for this assignment, outside of the