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Advantages and Disadvantages of International Financial Reporting Standards (IFRS)

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What are some of the reasons for and against the U.S. adopting international financial reporting standards (IFRS). Use at least 200 words and cite any sources in APA format.

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Solution Summary

The majority of the world uses IFRS as their accounting standards whereas the U.S. uses GAAP. This solution examines the advantages and disadvantages for the U.S. switching to IFRS.