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 ...

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

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 ...

Until January 2018, the hedge accounting guidance under U.S. GAAP and IFRS was fairly aligned. However, the new International Financial Reporting Standard for financial instruments, IFRS 9, diverges ...

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 ...

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 ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tough new rules are set to push banks to take a hit on their balance sheets for losses they expect to make in ...

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 ...