Do the objectives of GAAP accounting and tax accounting methods differ? Explain.

Question:

Do the objectives of accounting and tax accounting methods differ? Explain.
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...