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Describe the similarities and differences in accounting for revenue recognition under the international standards and the FASB standards. Identify (in general terms) the possible impact

  1. Describe the similarities and differences in accounting for revenue recognition under the international standards and the FASB standards.
  2. Identify (in general terms) the possible impact on the financial statements of Apple Inc company changing from FASB to IFRS.
  3. How should these items be disclosed under IFRS and FASB?

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