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 ...

Christina Majaski writes and edits finance, credit cards, and travel content. She has 14+ years of experience with print and digital publications. Hans Daniel Jasperson has over a decade of experience ...

Barclay Palmer is a creative executive with 10+ years of creating or managing premium programming and brands/businesses across various platforms. Somer G. Anderson is CPA, doctor of accounting, and an ...

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 ...