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 ...

The transition to international financial reporting standards (IFRS) from Canadian generally accepted accounting principles (GAAP) has had a noticeable impact on the financial statements of Canadian ...

For a true global multinational such as International Business Machines, the country-by-country switch from national accounting standards to the International Financial Reporting Standards poses ...