Do U.S. GAAP and IFRS differ in the criteria they use to determine whether a transfer of

Question:

Do U.S. and IFRS differ in the criteria they use to determine whether a transfer of receivables is treated as a sale? Explain.

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...