The new international accounting standard is aimed at more consistent reporting that’s better aligned with how businesses are ...

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 International Financial Reporting Standards (IFRS) are a set of global accounting standards, and IFRS 16 outlines how companies should report property leases. It replaces the old IAS ...

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 ...

Certain topics have been removed from the standard, including earnings per share, interim financial reporting.

IFRS 17, which goes into effect in 2021, represents one of the most significant shifts to insurance accounting requirements in the last 20 years. Workday and Aptitude Software have partnered to create ...

Tacked in between the surprising but not so surprising revelation that bond notes and all of Zimbabwe’s pseudo currencies were no longer equal to the USD, was a cryptic reference to something called ...

The International Financial Reporting Standards (IFRS) are a set of global accounting standards, and IFRS 16 outlines how companies should report property leases. It replaces the old IAS ...