The US is currently contemplating the transition to IFRS.US GAAP is regarded by many...
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The US is currently contemplating the transition to IFRS.US GAAP is regarded by many in the US as the gold standard It is detailed and rules based and in many cased industryspecific and there is a perception among some that adoption of IFRS will compromise the quality of financial reporting. REQUIRED i Discuss in what ways IFRS differs from US GAAP, as describe above ii Discuss the advantages that a country may gain from transitioning to IFRS
The US is currently contemplating the transition to IFRS.US GAAP is regarded
by many in the US as the gold standard It is detailed and rules based and in
many cased industryspecific and there is a perception among some that adoption
of IFRS will compromise the quality of financial reporting.
REQUIRED
i Discuss in what ways IFRS differs from US GAAP, as describe above
ii Discuss the advantages that a country may gain from transitioning to IFRS
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