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The SEC is currently considering a shift from U. GAAP to IFRS. This change has a possibility of being mandated.

The SEC is currently considering a shift from U.S. GAAP to IFRS. This change has a possibility of being mandated. A shift of this magnitude can mean all accountants be re-educated on the new standards. Certainly the intention is to have a single global set of rules to simplify the world of accounting however some thought leaders voice that it could complicate the profession more. Below you will find links to articles on this topic.
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Accounting -8072884.doc

Generally Accepted Accounting Principles (US GAAP):
Generally Accepted Accounting Principles (GAAP) is the set of rules, methods, processes and
procedures used by companies across all industries in...

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