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Discuss the differences between gaap and ifrs

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Reference no: EM13855652

Policies and Procedures in an Accounting System

Accountants are responsible for following standards, conventions, and rules in order to ensure ethical reasoning in their day-to-day practices. However, the rules in the United States vary from those followed in other countries.

Based on your readings for this week:

Discuss the differences between GAAP and IFRS:

What are implications of the differences in financial reporting?

What are two advantages and two issues with each?

With these thoughts in mind:

Post an initial statement that expresses your thoughts on the differences between GAAP and IFRS. The length of your response(s) should be a minimum of 150 words.

Reference no: EM13855652

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