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Shift from GAAP to IFRS

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Over the next few years companies will be shifting away form GAAP to IFRS (International Financial Reporting Standards). GAAP was a rules based approach to accounting where IFRS is a more principals based approach to accounting. Does this shift make it easier for investors to analyze companies?

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The solution explains some aspects of the shift from GAAP to IFRS.

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It would make not make it easier for investors to analyze companies. The reason is that principles based approach implies that there would be a possibility of different interpretations. A rule based approach already provides for the rules on how a transaction is to the ...

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