However, any company that does a large amount of international business may need to use IFRS reporting on its financial disclosures in addition to GAAP. Article Sources Investopedia requires writers ...

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 ...

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 ...

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 ...

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 ...

While the SEC moves toward a 2011 vote on whether to require U.S. public companies to report using IFRS, a more compact version of the international standards is ...

Iberdrola USA filed an S-4 with the SEC related to its acquisition of UIL. Previously, IUSA financials were based on IFRS, but the S-4 used US GAAP. This creates a unique opportunity to examine how ...

Imagine you're about to purchase a manufacturing company. Your final decision comes down to two profitable enterprises, and you have their financial reports on your desk. These reports are the basis ...

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...