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In 2008, the sec approved a plan to replace GAAP and GAAS with IFRS. Explain the general differences in these standards. Why do you think

In 2008, the sec approved a plan to replace GAAP and GAAS with IFRS. Explain the general differences in these standards. Why do you think the sec is not using IFRS? Do you believe that this is a good change or a bad change? Why?

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GAAP is the set of rules that are meant for companies to assist and help in preparation of financial statements that are followed in all parts of the ... blur-text-image

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