Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...

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 ...

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 ...

Companies use financial statements both for internal and external purposes. Those that supply information to the public must follow accounting principles. Both the Generally Accepted Accounting ...

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 ...

NEW YORK--(BUSINESS WIRE)--The XBRL US Data Quality Committee (DQC) has published its 17th Rule Set for a 45-day public review and comment period, which closes on December 31, 2021. This latest draft ...

An academic study demonstrates that earnings management is pervasive across U.S., European and Asian companies, whether they’re using U.S. GAAP or International Financial Reporting Standards.

Discover the key differences between IFRS and GAAP accounting standards, and learn how they impact financial reporting for ...