a. Describe some way that U.S. GAAP and IFRS are different. b. How are U.S. GAAP and
Question:
b. How are U.S. GAAP and IFRS alike for reporting purposes?
GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
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a The differences between IFRS and US GAAP can be summarized in a ...View the full answer
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Related Book For 
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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