Question: Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues: Treatment of Contingent Assets and Liabilities Treatment of Asset

Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues:

Treatment of Contingent Assets and Liabilities

Treatment of Asset Recognition

Treatment of Revenue Recognition

Treatment of Options

Treatment of Onerous Contracts

Treatment of Restructuring Provision

Treatment of Measurement of Deferred Taxes

Treatment of Service Contracts

Treatment of Financial Assets

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