Inaddition,countries could continue to follow the two -”“standard system,that is,listed firmsfollow full IFRS for national accounts and private consolidated firms apply GAAP for individualaccounts(non - adoption of IFRS for SMEs)(Street and Larson 2004)。Thus,in countries wheregovernments and market participants with positive experiences have gained domestic GAAP,likely non - adoption is to remain the status quo
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