Briefly describe some of the similarities and differences between disclosure rules under U.S. GAAP and IFRS.

Question:

Briefly describe some of the similarities and differences between disclosure rules under U.S. and IFRS.

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...