Generally accepted accounting principles (GAAP)in the United States have been fully converged with International Financial Reporting Standards (IFRS).

Name: Generally accepted accounting principles (GAAP)in the United States have been fully converged with International Financial Reporting Standards (IFRS).
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Question

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While there have been efforts to converge GAAP and IFRS, they are not fully converged and there are still significant differences between the two sets of accounting standards.

Generally Accepted Accounting Principles (GAAP)in the United States Have Been