United States accounting rules have been perceived as being less complex than international standards.

Question

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International financial reporting standards (IFRS) are often seen as being more complicated than US Generally Accepted Accounting Principles (GAAP). This is because IFRS is used by a greater number of countries and covers a wider range of accounting issues, while US GAAP has a more narrow focus on topics relevant to US businesses.

United States Accounting Rules Have Been Perceived as Being Less