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Acc 290 – Ifrs Vs. Gaap IFRS vs GAAPRichie GalinatoACC/291January 8, 2016Thomas HouseIFRS vs GAAPWhile GAAP (Generally Accepted Accounting Practices) is accepted in United States of a, the more widely utilized accounting practice is the International Financial Reporting Standards. The IFRS is used in more than 110 countries. The IFRS is considered more principle based.