What are the major differences between ( GAAP ) and ( IFRS ) ?

Question added by Shady Ali - CMA , Senior Accountant , Smart Code for business services
Date Posted: 2016/08/11

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GAAP = generally accepted accounting principles

IFRS = international financial reporting standards

they both work as a guide for accountants, while the IFRS is globally known and GAAP is mostly known and applied american companies.

With minor differences regarding recorded expenses and some assets.

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