Would you describe the differences between IFRS and US GAAP as 'major'? Will it be easy for

Question:

Would you describe the differences between IFRS and US GAAP as 'major'? Will it be easy for the standard-setters to remove these differences?

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...