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 ...

CONTRARY TO WHAT IS REQUIRED IN AUDITED financial statements, the only SEC regulation governing what companies put in their earnings releases is that the information should not be misleading. There ...

Using standard accounting methods benefits any small business. For those looking to level up their financial reporting, adopting generally accepted accounting principles (GAAP) can unlock new ...

The Governmental Accounting Standards Board released a study Monday on utilization of GAAP among state and local governments and found all the states are using GAAP, but only about three-quarters of ...

Discover the crucial differences between pro forma and GAAP financial statements. Learn why companies use both and the potential implications of each for investors.