Compared to U.S.GAAP,IASB standard generally allow firms more latitude.

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Generally, IASB standards are considered more principles-based, allowing for more flexibility and judgment in applying the standards compared to the more rules-based U.S. GAAP. This can result in more latitude for firms in certain situations. However, it is important to note that both sets of standards have their own specific requirements and limitations.

Compared to U.S.GAAP,IASB Standard Generally Allow Firms More Latitude