Find 3 major differences on the income statement between the competitor firms using IFRS and GAAP. Discuss.

Find 3 major differences on the balance sheet between the competitor firms using IFRS and GAAP. Discuss.

Describe at least 2 differences in disclosure provided in the footnotes of the competitors under IFRS and GAAP.

For 1 of the major accounting differences, do further research into the applicable standards for IFRS and US GAAP. Quote portions from each standard and then explain the standards in your own words.