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In recent years, there has been an ongoing debate in the accounting profession focusing on the quality of the accounting standards issued by the International

In recent years, there has been an ongoing debate in the accounting profession focusing on the quality of the accounting standards issued by the International accounting Standards Board versus those issued by the Financial Accounting Standards Board. Research and briefly explain the key philosophical difference between those two important rule-making bodies that significantly affects the nature of the accounting standards promulgated by each.

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