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Now which GAAP you are referring to? GAAP stands for Generally Accepted Accountingn Principles. And there are many: UK, US, China Canada,etc.
IFRS are principles based (flexible in nature as it captures the economics and nature of a business transaction) while GAAP like in the US are rules based (inflexible).
The answer to this question is very vague. I hope my answer was helpful.
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