Used as a guide to assess the necessity of being fluent in IFRS and U.S. GAAP, each element of Porter’s framework is considered in the context of making business decisions that are informed by the ...

Now there’s a free online tool to help preparers understand how that streamlined standard compares to U.S. GAAP. The IFRS for SMEs-U.S. GAAP Comparison Wiki, available at wiki.ifrs.com, is a ...

GAAP reports in detailed, precise formats; IFRS allows flexible, principle-based reporting. GAAP does not permit asset value recovery post-impairment; IFRS allows revaluation. IFRS does not ...

The G-20 has called for global adoption of a single set of high-quality financial reporting standards, and the IFRS Foundation’s initiative aims to provide a central source of information for ...

While companies in the United States operate under the generally accepted accounting principles (GAAP), most other countries use the International Financial Reporting Standards (IFRS). There are ...

IFRS and GAAP are the two major systems. Other systems are used elsewhere, notably in China. Significant differences between the two major accounting systems represent substantial variances in ...

Nicolas Pologeorgis has 24+ years of experience in academic consulting. He has held administrative and faculty positions in various institutions. Chip Stapleton is a Series 7 and Series 66 license ...

In the area of fixed assets and the resultant depreciation there are some major differences between the GAAP rules codified in ASC Topic 360 and the IFRS rules in IAS 16. In GAAP there is only one way ...

The international financial reporting standards, or IFRS, are the International Accounting Standards Board's counterpart to the generally accepted accounting principles, or GAAP, set forth by the ...

U.S. generally accepted accounting principles, or GAAP, and international financial reporting standards, or IFRS, treat inventory accounting similarly, but some important differences exist.

The first paper compares U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), while the second paper takes a closer look at how some foreign ...