The Children's Online Privacy Protection Act (COPPA) was passed in 1998 and established the first framework for online privacy protection for children under 13 who use the Internet. Essentially, COPPA mandates what personal and marketing information, if any, webmasters can collect from minors and details what must be disclosed in a privacy policy. Given the expansive nature of data collection and widespread use of Internet connected devices, should COPPA be expanded to: (1) children who are 13-18 years old or (2) all citizens utilizing the Internet

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.