Compare and Contrast IFRS vs US GAAP
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Compare and Contrast IFRS vs US GAAP


  • College
  • 1046

Short excerpt:

U.S GAAP (Generally Accepted Accounting Principles) is practiced only in United States while IFRS (International Financial Reporting Standards) are adopted by the International Accounting Standards Board (IASB). There are notable differences between IFRS income statement and a typical income statement prepared using U.S GAAP.

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