Threaded Discussions



Threaded Discussions

Part 1)

The U.S. GAAP and IFRS are the two leading international accounting systems. Wal-Mart is US Bases Company where GAAP standard has been followed while Tesco is UK based company who follow IFRS.

The importance of IFRS to U.S. GAAP is at the expense of steadily enhancement. In particular, the obligations of European capital market-oriented businesses contributed to the application of IFRS in financial statements from 2005 and the full acceptance of IFRS financial statements of foreign issuers by the SEC beginning in 2007.

Since the completion of the Norwalk Agreement in 2002, the FASB are working and ...