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 Situation: New rules for the accounting of operating leases will come into force under the International Financial Reporting Standards ("IFRS") and U.S. Generally Accepted Accounting Principles ...

GAAP accounting stands for generally accepted accounting principles. These principles are a set of standardized rules that accountants use. Companies that sell public stock and release financial ...

Generally accepted accounting principles are a set of 10 accounting standards and guidelines created and maintained by the U.S. Financial Accounting Standards Board. Since the FASB established GAAP ...

OLDWICK, N.J.--(BUSINESS WIRE)--New financial reporting rules for long-duration contracts will increase transparency to investors and other users of GAAP financial statements, although the complexity ...

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 ...

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 ...

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 ...

Financial statements are one mechanism in which to provide insight into a company's financial health. However, management may not be satisfied that this information clearly reflects their business, ...

WASHINGTON, DC - APRIL 27: The Internal Revenue Service headquarters building appeared to be mostly empty April 27, 2020 in the Federal Triangle section of Washington, DC. The IRS called about 10,000 ...

In the wake of a preliminary rule change for public accounting records, Apple is predicted to benefit with more transparent representation of iPhone and Apple TV sales. The Financial Accounting ...