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Suppose you have been invited to participate as a public in The FASBS Standard-Setting Process. Proposed Issue: Eliminate US GAAP and Adopt IFRS in the
Suppose you have been invited to participate as a public in The FASBS Standard-Setting Process.
Proposed Issue: Eliminate US GAAP and Adopt IFRS in the United States Accounting System. This means that all local US companies will submit the Financial Statements using IFRS to: SEC, American Stocks Exchange, Government Agencies, Private Sector, Banks, etc.
Required:
- You must take a position or posture in favor or against of the FASBs proposed issue.
- Write your arguments to support your decision. It should include 3 numerical examples
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