Topic: convergence HARVARD STYLE Evaluate the process of convergence, highlighting the general benefits and limitations of the convergence of accounting standards, discuss the adoption of IFRS in Europe, including the consequences of the transition.

Topic: convergence HARVARD STYLE Evaluate the process of convergence, highlighting the general benefits and limitations of the convergence of accounting standards, discuss the adoption of IFRS in Europe, including the consequences of the transition. Your discussion should also include a discussion of scope of IFRS1- first time adoption of international financial reporting standards. Evaluate the process of convergence of IFRS and US GAAP highlighting the need of such a convergence and providing and examples of success and setbacks in the process. Evaluate the converged standard, IFRS 15 revenues from contracts with customers, contrasting it with the super ceded IASB standard, IAS 18 revenue.