NEW YORK--(BUSINESS WIRE)--The XBRL US Data Quality Committee (DQC) has published its 17th Rule Set for a 45-day public review and comment period, which closes on December 31, 2021. This latest draft ...

NEW YORK--(BUSINESS WIRE)--The XBRL US Data Quality Committee (DQC) has published its 15th Ruleset for a 45-day public review and comment period, which closes on June 2, 2021. This latest draft ...

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 ...

Two accounting boards are working toward a common set of procedures for recognizing revenue. The international financial reporting standards, or IFRS, are the International Accounting Standards ...

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 ...

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. Processing Content In GAAP ...

In Washington today, top officials of the EU Commission and the Securities & Exchange Commission (SEC) reached agreement on a roadmap towards equivalence between International Financial Reporting ...

The IFRS versus local GAAP comparison guides provide an overview of the major similarities and differences between the two sets of standards. US GAAP versus IFRS: The Basics (available in webpage ...

Companies use financial statements both for internal and external purposes. Those that supply information to the public must follow accounting principles. Both the Generally Accepted Accounting ...

An academic study demonstrates that earnings management is pervasive across U.S., European and Asian companies, whether they’re using U.S. GAAP or International Financial Reporting Standards.