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Gaap Vs. Ifrs Essay Preview: Gaap Vs. Ifrs Report this essay Final ProjectMilestone 1: GAAP vs. IFRSSouthern New Hampshire UniversityGAAP Versus IFRSGAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards) are two different standards that report accounting information. GAAP is used in the U.S., while IFRS is used in over 110 countries around.