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IFRS
International Financial Reporting Standards; a set of global accounting standards that provide guidance on how to report financial events.
GAAP
GAAP refers to the widely recognized set of accounting norms and guidelines followed in the U.S. for preparing financial statements.
Fair Value
The amount one would obtain from selling an asset or the cost to transfer a liability, in a smooth transaction with market players on the day of valuation.
Identifiable Intangible Assets
Non-physical assets that can be separated from the company and sold, transferred, or leased, such as patents and trademarks.
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