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 ...
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 ...
The Securities and Exchange Commission has a lot of questions about embracing international accounting rules, but they all come down to this: Are two sets of standards better than one? Last week, the ...
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