(Answered) Explain the concepts of the gaap to the ifrs and how they

Accounting

Explain the concepts of the GAAP to the IFRS and how they relate to the practice of accounting and its business?

1. Describe some of the issues the SEC must consider in deciding whether the United States should adopt IFRS.

2. Compare and contrast the rules regarding revenue recognition under IFRS vs GAAP?

3. Under the IFRS, explain if the definitions of revenues and expenses include gains and loses?

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