ACCT 313 Discuss pros and cons for the method of accounting

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ACCT 313 Discuss pros and cons for the method of accounting

Discuss pros and cons for the method of accounting under US GAAP and IFRS, respectively. Based on your discussion, under what circumstances (e.g., what types of firms, market conditions, etc) are the US GAAP standards is better and under what circumstances are the IFRS standards is superior?