Accounting discussion

Accounting discussion

Are there major similarities and differences between U.S. GAAP and IFRS? Which of the differences do you find most interesting? If there is a convergence between U.S. GAAP and IFRS, would you choose the U.S. GAAP or IFRS method? Why?




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Similarities and differences between U.S. GAAP and IFRS
Similarities; Exchange examination is the same under IFRS and GAAP. Both the IASB and the FASB go past the essential definitions gave for the critical components of money related explanations, that is resources, liabilities, value, incomes, what’s more, costs.

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