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7 May, 09:55

If authoritative U. S. GAAP is not available for a particular research issue, and the researcher looks to IFRS for similar transactions, the researcher is said to be defaulting to IFRS. analogizing to IFRS. applying the IFRS Framework. deferring to IFRS.

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Answers (2)
  1. 7 May, 11:15
    0
    Applying FRS Framwork
  2. 7 May, 12:53
    0
    Applying IFRS framework

    Explanation:

    Frameworks are regulations and policies that are put in place to guide the activities of a particular system. GAAP is an accounting framework in the US

    In a situation where a desired framework is not available, another similar framework can be adopted and applied provided it suit the intended purpose.

    This means that the scope, use and governance principle must be considered before adoption.
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