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 ...

Conversion to IFRS will be far more than a technical accounting exercise. Implementing IFRS will impact many, if not all, aspects of your business operations, including information technology. It may ...

The U.S. Securities & Exchange Commission voted Aug. 27 for a proposed "roadmap" that could led to U.S. firms switching from the U.S. Generally Accepted Accounting Principles (GAAP) to the ...

Accounting professionals are accustomed to complying with accounting standards. Generally accepted accounting standards set the guidelines for reporting financial transactions in the United States.

When will IFRS 17 take effect? It comes into force in 2021, and for the world’s insurance companies it’s the biggest change in accounting standards in perhaps 20 years. For companies moving to IFRS 17 ...