Question: Describe the primary differences between IFRS and U.S. GAAP in the way leases are classified as either operating or finance (capital) leases.
Describe the primary differences between IFRS and U.S. GAAP in the way leases are classified as either operating or finance (capital) leases.
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In general IFRS is considered to be more principlesbased while US GAAP is more rulesbased For exampl... View full answer
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