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 ...

Conversion from U.S. GAAP to IFRS is a heavily discussed topic in the corporate world. Expected benefits of adoption include reporting consistency, enhanced global competition and improved financial ...

While U.S. and international accounting standards seem set on an inevitable convergence path, some are worried that the U.S. approach may end up becoming a bad influence on International Financial ...

In Washington today, top officials of the EU Commission and the Securities & Exchange Commission (SEC) reached agreement on a roadmap towards equivalence between International Financial Reporting ...

Globalization may be coming in baby steps. In the effort to move to a single, universal financial reporting standard, the Securities and Exchange Commission voted unanimously last month to open for ...

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 ...

Two accounting boards are working toward a common set of procedures for recognizing revenue. The international financial reporting standards, or IFRS, are the International Accounting Standards ...

For as long as most people can remember, U.S.-based GAAP (Generally Accepted Accounting Standards) has been the gold standard for financial reporting. But today, more than 100 countries require or ...

What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...