Select any principle, rule, term, or general aspect that differs under U.S. Generally Accepted Accounting

(TCO 10) X-Temp Inc. incurred $275,000 research costs on the development of its formula for a new line of face
February 12, 2020
When considering the cash versus accrual methods of accounting
February 12, 2020

Select any principle, rule, term, or general aspect that differs under U.S. Generally Accepted Accounting

Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS), also known as “i-GAAP”, and explain this difference. Also please provide your thoughts on the potential implications of this difference, specifically regarding how it might affect the process of financial reporting or the content of a company’s financial statements.

 
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