Stay compliant and informed with our expert guide that teaches you all you need to know about the IFRS standards and how they may impact your business.
IFRS are the standard in over 100 countries, including the EU and many parts of Asia and South America. The United States, however, has not yet adopted them and the SEC is still deciding whether or not they should move toward them as the official standard of accounting. List of IFRS Stan...
What is IFRS? What does it do and how does it affect business? What are the international benefits of harmonization of the International Financial Reporting Standards (IFRS) and the United States Generally Accepted Accounting Principles (GAAP)? Explain. What is the purpose of the Fi...
There are many different types of IFRS regulations, but there are four main ones: accrual basis, going concern, stable measuring...
The NCAA had good reason for characterizing its 2021 NIL rules as “interim.” They are likely to undergo numerous changes in the months and years ahead, driven by forces both inside and outside the NCAA. In January 2024, the states of Tennessee and Virginia sued the NCAA, maintaining that...
Lease accounting software manages a company’s leased real estate properties, assets and equipment, enabling compliancy with financial reporting regulations such as IFRS 16.
NGAAP relies on historical-cost method for its assets, where assets are valued at the historical cost (less depreciation and impairment) despite having changed value over time. Recording of appreciation is prohibited, with an exception given to financial instruments. IFRS 13, on the other hand,...
20K Understand what IFRS is. Learn what IFRS stands for and the meaning of IFRS and IFRS standards. Know more about IFRS with the help of relevant examples. Related to this QuestionWhat are the principle differences between IFRS and U.S. GAAP? What is the GAAP method? What is the role...
There are certain conditions that businesses must meet as per IFRS requirements. According to the IFRS, these requirements fall into three different categories that are needed for contracts to exist. The table below highlights each one:4 Performance indicates the seller has fulfilled a majority of ...
Find out what IAS and IFRS are, and why they are so important in the world of accounting, with our simple guide to IAS vs. IFRS.