Contents. DIFFERENCES BETWEEN GAAP AND IFRS- 2. CHALLEN

Contents
DIFFERENCES BETWEEN GAAP AND IFRS-..............................................................2
CHALLENGES OF GAAP-...................................................................................... 2
CHALLENGES OF IFRS-........................................................................................ 3
BENEFITS OF GAAP-............................................................................................ 3
BENEFITS OF IFRS-.............................................................................................. 3
CONCLUSION-........................................................................................................ 3
REFERENCES-......................................................................................................... 4

DIFFERENCES BETWEEN GAAP AND IFRS-
CHALLENGES OF GAAP-
GAAP deals with many significant accounting problems concerning stock
appraisal, acknowledgement of income and securities differently from IFRS. This
implies that expensive and complicated reconciliation documents must be
prepared by global businesses that jeopardize accountability and concision.
GAAP offers particular guidelines in certain fields, like derivatives therapy and
underwriting, rather than steering values. This implies that GAAP is not
adaptable enough to satisfy global market modifications. ("GAAP Limitations", 2019)