Discuss the nature and implications of the upcoming accounting switch from GAAP to IFRS in the United

Question:

Discuss the nature and implications of the upcoming accounting switch from to IFRS in the United States.
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...