International financial reporting standards

Assignment Help Financial Accounting

Reference no: EM13744912

Some people say that the International Financial Reporting Standards (IFRS)are more “principles-based” while the Generally Accepted Accounting Principles (GAAP)are more “rules-based.” Explain why you agree or disagree with this statement. Which standard provides the best framework for financial disclosure and transparency? Provide examples that support your opinion.

Reference no: EM13744912

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