Are the differences between IFRS and U.S. GAAP significant? Explain
Chapter1: Financial Statements And Business Decisions
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Are the differences between IFRS and U.S. GAAP significant? Explain.
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IFRS:-These are the International Financial Reporting Standards which followed by the companies, entities, and individual for the preparation of their financial statement. These provide global recognition of the standards which are prepared by the government bodies.
US GAAP:-These are the US Generally Accepted Accounting Principles which are only followed in the United States for the preparation of their financial statements.
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