Why do you think GAAP requires consolidation when a company acquires 50% or more of the voting stock of another company? Explain the main difference between common and preferred stock. What is a dividend? Why do companies pay dividends?
Explain and differentiate between the three concepts of income: economic, legal, and accounting. Explain the difference between the "fair presentation" and "legal compliance" orientations of accounting and identify nations in which each is prevalent. Explain the main difference between common and prefe...
Difference Between GAAS and GAAP By Edriaan Koening eHow Contributor To comply with accounting rules and regulations, a company has to prepare financial statements. These statements have to follow certain standards to prevent businesses from manipulating the numbers to make their finances appear ...
GAAP comes into play before GAAS does. This is because the company’s accountants have to first prepare the financial statements based on GAAP before the company’s auditors have financial statements to review based on GAAS. Additionally, a business usually uses GAAP continuously through the account...
GAAP are not static: they change based on changing laws and may differ slightly from state to state or between business types. These principles have several very important functions. Tax Uniformity First, GAAP help create a uniform tax code for states and the IRS. Without generally ...
Answer to: Compare the difference between traditional and non-traditional life insurance products by explaining the financial disintermediary. By...
You need both SaaS Metrics and GAAP metrics to quantify and grow your business. If you don't understand these metrics, it will lead to confusion and conflict in your business.
What Is the Main Difference Between GAAP and Non-GAAP? GAAP is the U.S. financial reporting standard for public companies, whereas non-GAAP is not. Unlike GAAP,non-GAAP figures do not include non-recurring or non-cash expenses. Also, because there are no standards under non-GAAP, companies...
IFRS and GAAP are the two primary financial reporting standards systems used by accountants. Learn about the main methodological and practical differences between them.
The purpose of this ex-post facto, quantitative design with three MANOVAs was to understand how the financial outcomes measuring both short and long-term ratios for profitability, liquidity, market value, and capital structure differ between US GAAP and IFRS for the same firm in the same year....