US GAAP

IFRS €“ what does it stand for and what is it? Include dates and how it will affect businesses of all sizes; where it is and isn’t affective now, how it compares to US GAAP
IFRS €“ what does it stand for and what is it? Include dates and how it will affect businesses of all sizes; where it is and isn’t affective now, how it compares to US GAAP €“ if less than 1/2 page will not receive full points