Describe U.S. GAAP and why it differs from GAAP in other countries.
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Describe U.S. GAAP and why it differs from GAAP in other countries.
GAAPGenerally 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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IFRS are different from US GAAP in a variety of ways IFRS are regarde...View the full answer
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