Question

What Is the Difference Between US GAAP and Indian GAAP?

Answer 1

The difference between US GAAP and Indian GAAP is that US GAAP does not allow revaluation of property, plant and equipment while Indian GAAP allows revaluation of property, plant and equipment.

Also read:

• MCQs on GAAP
• GAAP (Generally Accepted Accounting Principles)
• Difference Between GAAP and IFRS

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