The U.S.accounting standards are more principle-based than IFRS.

Name: The U.S.accounting standards are more principle-based than IFRS.
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The U.S. accounting standards are generally considered to be more rules-based, while IFRS (International Financial Reporting Standards) are more principle-based. However, this distinction is becoming increasingly blurred, as both standards have been converging towards a more principles-based approach in recent years.

The U.S.accounting Standards Are More Principle-Based Than IFRS