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The excessive cost of the transitioning from the Generally Accepted Accounting Principles (GAAP) to the International Financial Reporting Standards (IFRS) is a vital business challenge. Based on the transaction cost economics (TCE) theory, the purpose of this qualitative single case study was to explore strategies that some of the organizational financial professionals use to minimize excessive transition costs from GAAP to IFRS accounting systems. The findings of this book could add practical knowledge of focused and consistent actions to IFRS adoption strategies, which could give priority to reducing the costs of the transaction from implementing GAAP to IFRS in local firms' financial reporting. The implications for positive social changes could include the potential to enhance knowledge of financial reporting, motivate investments, increase economic resources, and improve local employment growth.