Question
1) Briefly describe the major differences between GAAP and IFRS. 2) By adopting the IFRS principles, do you feel accountants in the US will have
1) Briefly describe the major differences between GAAP and IFRS.
2) By adopting the IFRS principles, do you feel accountants in the US will have more flexibility in how annual report items get reported? Explain.
3) If the IFRS principles are adopted, do you feel shareholders, creditors, suppliers, and customers will be better informed about US companies? Explain.
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
5th edition
134727797, 9780134728643 , 978-0134727790
