U.S. GAAP and IFRS require property, plant, and equipment to be accounted for and reported differently. Explain the major differences between the two and how this affects the financial statements. Select one or the other method, explain your reason for your selection, providing support why your selection provides a benefit to the company U.S. GAAP and IFRS require property, plant, and equipment to be accounted for and reported differently. Explain the major differences between the two and how this affects the financial statements. Select one or the other method, explain your reason for your selection, providing support why your selection provides a benefit to the company