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 ...

Imagine you are planning to explore many countries, each with different customs, language, food and culture. While the destinations may vary, a common understanding of certain rules and etiquette ...

This measure of GAAP differences is more judgmental than the next measure we describe be- cause (1) the list of items we include is based on the past literature, and (2) we utilize the text included ...

THERE IS A CLEAR TREND toward adopting IFRS as the single body of internationally accepted financial reporting standards. In the next few years, thousands of companies will move to IFRS as a primary ...

RULES change. They adapt to evolving circumstances, reshaping themselves in response to new challenges and realities. Change ...

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, ...

1. This financial summary report contains forward-looking statements regarding estimations, forecasts, targets and plans in relation to the results of operations, financial conditions and other ...