Explore the evolution of accounting standards from Generally Accepted Accounting Principles to International Financial Reporting Standards, analyzing the challenges and benefits associated with the transition for multinational corporations.

Explore the evolution of accounting standards from Generally Accepted Accounting Principles to International Financial Reporting Standards, analyzing the challenges and benefits associated with the transition for multinational corporations. Consider the impact of harmonizing accounting practices across different countries on financial reporting quality, comparability, and transparency. Additionally, assess the implications of adopting IFRS for stakeholders, including investors, creditors, and regulatory bodies, and discuss strategies for overcoming implementation hurdles and ensuring compliance with global accounting standards

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