Discover key differences between U.S. GAAP and IFRS standards, including inventory costing, asset revaluation, and financial reporting requirements.

IFRS 18 does not change the accounting rules for recognising revenue, valuing assets or measuring expenses. Instead, it changes the layout and discipline of financial reporting.

Accounting and finance organizations for many multinational businesses are currently working to create plans for two separate lease accounting standards: the Financial Accounting Standards Board’s ASC ...

The International Accounting Standards Board issued a set of amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures, enabling it to complete the catch-up work it had planned to ...

Conversion from U.S. GAAP to IFRS is a heavily discussed topic in the corporate world. Expected benefits of adoption include reporting consistency, enhanced global competition and improved financial ...

In line with the on-going financial reforms, significant public interest entities and companies listed on the Nigerian Stock Exchange were mandated to prepare their financial statements in line with ...

Discover how accruals affect company finances, with insights into the accrual accounting method, its applications, and examples illustrating its principles.

Underwriting firms are in a race to meet up with the requirement by regulatory authority, the National Insurance Commission’s (NAICOM’s) on the 2012 International Financial Reporting Standard (IFRS) ...

The IFRS (International Financial Reporting Standards Foundation) has been ruminating on the challenges of accounting for cryptocurrency for some time now. Next week (June 11-12), the IFRS ...

Accountants preparing and auditing financial statements for U.S. companies stand a good chance of encountering IFRS. The SEC requires financial statements to be filed in U.S. GAAP, and U.S. users of ...

Disputes between what accounting standards permit and what regulatory authorities in Kenya allow have become increasingly frequent over the years, particularly in relation to line items that directly ...