US GAAP vs. IFRS

Write a paper (10 pages main text, excluding attachments) that will consist out of the analysis of a contemporary topic in accounting. the chosen topic is:
US GAAP (general accepted accounting principles) vs. IFRS (international financial reporting standards).
CHAPTERS:

1. Describe what is US GAAP (Pros/Cons)
2. Describe what is IFRS (Pros/Cons)
3. What are the main differences of these accounting/ book keeping rules ?
4. Describe how they relate to each other ?
5. Describe the situations where we can have different numbers/results in both GAAP & IRFS

Sample Solution