Explain the concepts of the GAAP to the IFRS and how they relate to the practice of accounting and its business?

1. 1.DescribesomeoftheissuestheSECmustconsiderindecidingwhethertheUnitedStatesshouldadoptIFRS.
2. 2.CompareandcontrasttherulesregardingrevenuerecognitionunderIFRSvsGAAP?
3. 3. Under the IFRS, explain if the definitions of revenues and expenses include gains and loses?