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IFRS are typically labeled as concept-based while US GAAP are categorized as rules-based. During recent years the FASB repeatedly solicited for research on the feasibility of changing towards more concepts-based standards, as more and more ...
in years of effort to globally develop the highest accounting standard and to promote understanding of financial statements of businesses wherever they are situated. Ainternational accounting benchmark of the largest value evolved in colla...
IFRS differ from US GAAP Using IFRS as compare to GAAP in US food Inc will eliminitae the political influence in the company. Although IFRS will reduce the quality of financial statement but still impede comparibility.This also become posit...
IFRS, is getting useful information about the financial position, results of operations and cash flows of the company. Financial statements prepared in accordance with IFRS, focused on the information needs of a wide range of users, such as...
IFRS into the different accounting boards and standard. The research enlightened the significant impact of the IFRS in the accounting standards. The research also discusses the integration of FASB and IASB with FIRS. Furthermore, there is a...
IFRS) aspires to bring the entire nations in the world under a similar set of global accounting standards that presents consistency, transparency, and compatibility in financial reporting system. According to a fact financial regulators in ...
IFRS). As of today, accounting standards and their convergence have now become a growing concern and a serious bone of contention that not only make way for progress, but also has become important considering the dynamics of financial and a...