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What is the difference between GAAP and IFRS?

What is the difference between GAAP and IFRS?
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What is the difference between GAAP and IFRS?

User ISofia
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Answer:

GAAP is rules-based and IFRS is principles-based.

User Gottox
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GAAP is rules-based and IFRS is principles-based.
User Andreas Kahler
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