GAAP doesn't permit the revaluation of assets while IFRS does based on fair value. The FASB requires more financial documents to be filed compared to the IASB. U.S. companies are allowed to use ...

"According to our survey, IFRS is thriving and has become the most widely used accounting standard." Another fear was that U.S.-GAAP and IFRS would become more distinct over time, which would ...

Reviewed by Charlene Rhinehart What Is GAAP? Generally Accepted Accounting Principles, often known by the acronym GAAP, is a ...