IFRS and U.S.GAAP are the same in all respects.

Question

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While there are similarities between IFRS (International Financial Reporting Standards) and U.S.GAAP (Generally Accepted Accounting Principles), they are not identical in all respects. For example, IFRS allows for the use of the last-in-first-out (LIFO) inventory accounting method, while U.S.GAAP does not. There are also differences in how various financial instruments and lease agreements are accounted for under each framework.

IFRS and U.S.GAAP Are the Same in All Respects