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 new international accounting standard is aimed at more consistent reporting that’s better aligned with how businesses are ...

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 mandate ...

There are two dominant systems of accounting used by corporations around the world. In the U.S., companies use the generally accepted accounting principles, or GAAP, while international companies use ...

The ambitious road map to give the world a single accountancy standard - by converging U.S. generally accepted accounting principles with International Financial Reporting Standards by 2008 - may be ...

The Canadian Securities Administrators (CSA) are requesting comments on proposed amendments to National Instrument 52-112—Non-GAAP and Other ...

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...

Scientists established the International System of Units in the 19th century to give them a common set of standards to work with, rather than the multiple units of measurement that made it difficult ...

Companies that solely operate in the United States generally prepare financial statements that are in accordance with U.S. Generally Accepted Accounting Principles (GAAP). However, most of the rest of ...

Many companies supplement GAAP financial reporting with individually tailored accounting information. While these non-GAAP disclosures might provide useful information about an entity, financial ...