[SOLVED] GAAP Regulations

THESE ARE 3 separate dis post.  each response must be at 350 words or more. Discussion #1The GAAP regulations allow for variations in reporting financial data. What is the purpose of these options? There has also are been discussion to replace the GAAP with IFRS  standards.  Discuss. Discussion #2There are various ways that sales may be reported. However, the consistency principle of accounting states that the same methods and procedures should be followed every year. Discuss. Discussion #3Depreciation may be calculated in several different ways. Why are these alternatives are allowed for reporting?  Discuss.