ACC 407 IFRS and GAAP, How Do They Differ
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IFRS AND GAAP 1 ACC 407 IFRS and GAAP, How Do They Differ Compare and contrast the key differences between IFRS and U.S. GAAP as discussed in the paper, "IFRS and GAAP, How Do They Differ" by Theresa M. Odom. In your response, address the rule - based vs. principle - based approach, the impact on financial reporting, and the potential advantages and challenges of adopting a unified international accounting standard. Please support your discussion with specific examples from the paper. Word Count Requirement: 750 - 1,000 wordsPage 2
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IFRS AND GAAP 2 “ IFRS and GAAP, How Do They Differ ” Theresa M . Odom ACC 407 Bruce Geddes January 18, 2015IFRS AND GAAP 1 ACC 407 IFRS and GAAP, How Do They Differ Compare and contrast the key differences between IFRS and U.S. GAAP as discussed in the paper, "IFRS and GAAP, How Do They Differ" by Theresa M. Odom. In your response, address the rule - based vs. principle - based approach, the impact on financial reporting, and the potential advantages and challenges of adopting a unified international accounting standard. Please support your discussion with specific examples from the paper. Word Count Requirement: 750 - 1,000 words IFRS AND GAAP 2 “ IFRS and GAAP, How Do They Differ ” Theresa M . Odom ACC 407 Bruce Geddes January 18, 2015