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 ...

Reviewed by Margaret James Barter exchange takes place when an individual or a business entity provides a good or service and receives a good or service in return rather than receiving cash or another ...

THERE IS A CLEAR TREND toward adopting IFRS as the single body of internationally accepted financial reporting standards. In the next few years, thousands of companies will move to IFRS as a primary ...

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 ...