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(IFRS v US GAAP) With respect to translation of the financial statements of a foreign subsidiary located in a highly inflationary economy, explain the differences

(IFRS v US GAAP)

With respect to translation of the financial statements of a foreign subsidiary located in a highly inflationary economy, explain the differences between U.S. GAAP accounting and reporting and IFRS accounting and reporting. (Be brief, no more than 3 paragraphs)

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