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ki77a [65]
3 years ago
5

With respect to the categories of assets, liabilities, and stockholders' equity presented on the balance sheet (statement of fin

ancial position), what are U.S. GAAP and IFRS differences?
Chemistry
1 answer:
Pavlova-9 [17]3 years ago
4 0

Explanation:

GAAP is a generally accepted accounting principle in U.S. it refers to common sets of accepted accounting principle, standards, procedures that the companies and its accountants must follow in order to compile their financial statement.

IFRS are sets of international accounting standards That specify how the financial statements will disclose different types of transactions and other activities. The International Accounting Standards Board (IASB) issues IFRS which defines precisely how accountants are required to maintain and record their accounts. In an attempt to have an universal accounting system, IFRS was developed so that business and accounts can be interpreted from industry to industry, and country to country.

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lesantik [10]

Answer:

No

Explanation:

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<em>One of the attributes of a valid experiment in science is replication. That is, an experiment must be repeatable with similar outcomes under similar conditions as the original experiment when independently performed by another scientist. Once an experiment cannot be replicated, the outcomes of such an experiment become invalid in science.</em>

Hence, <u>Thomoson's conclusion would be invalid if his experiment could not be replicated. </u>

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NemiM [27]

Answer:

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Nostrana [21]

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