Disucssion:
Carlos
After doing some research I was able to see how the treatment of business combinations between US GAAP and International Standards which is also referred to as the IFRS are very similar and different. I think the GAAP method is more beneficial to the readers of the financial statements because the main purpose of the GAAP is "to ensure the least amount of inconsistency in the financial reports of a company to enable easy analysis and evaluation of information by investors." (Nderitu, 2017) This quote goes to show the process created by the GAAP for businesses to follow when creating financial statements are very detailed that it allows for people reading them to be able to easily follow the organization of the various accounts on financial statements to be able to find the accurate data you are looking for.
Word Count: 139
Reference
Nderitu, G. (2017, September 28). Difference Between. Retrieved January 08, 2018, from https://www.differencebetween.net/business/finance-business-2/differences-between-ifrs-and-us-gaap/