Question: Research and write how the difference between IFRS and GAAP has evolved since the video (The Difference between GAAP and IFRS) was produced in 2018.

Research and write how the difference between IFRS and GAAP has evolved since the video (The Difference between GAAP and IFRS) was produced in 2018. Identify the main differences and provide an analysis as to why these differences exist and why it is necessary to continually update both accounting standards?

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Since the video The Difference between GAAP and IFRS was produced in 2018 there have been several developments and ongoing efforts to converge or harmonize International Financial Reporting Standards ... View full answer

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