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Globalizations Impact On Accounting Education Apr 15th 2013, 01:35 Globalization has a huge impact on every day activities and occurrences. One major effect globalization has today deals with its impact on accounting education. The United States is the only country that still uses general accepted accounting principles also known as GAAP, even though over 100 other countries use International Financial Reporting Standards, or IFRS. If the U.S. switches over to IFRS it will cause problems for current accountants, professors, and students.

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