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Discuss the ways in whichS. GAAP and IFRS estimates of contingent losses can differ. How is the terminology different between U.S. GAAP and IFRS? Why

Discuss the ways in whichS. GAAP and IFRS estimates of contingent losses can differ.

How is the terminology different between U.S. GAAP and IFRS?

Why are the differences in estimating contingent losses important to know?

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