Can you help me understand this Accounting question?
Dor this discussion, I need the discussion answered and a reply to three other students. The three student’s posts for you to reply to will be send to you tomorrow.
Discussion: GAAP Versus IFRS
-Post a clear and logical response in 250 words to the following, providing specific examples to support your answers:
-Briefly describe the major differences between GAAP and IFRS.
-By adopting the IFRS principles, do you feel accountants in the United States will have more flexibility in how annual report items get reported? Explain.
-If the IFRS principles are adopted, do you feel shareholders, creditors, suppliers, and customers will be better informed about U.S. companies? Explain.