How do the U.S. GAAP and IFRS differ in their approach to consolidate financial statements?
Discuss which approach you support (GAAP or IFRS) related to consolidating financial statements at the date of acquisition. Explain your rationale.
Create an alternative to the current GAAP or IFRS requirements for consolidated financial statement. Explain why the new approach would be more appealing to companies.
At least 3 paragraphs please.