"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 ...

GAAP is primarily used in the United States. Many other countries use the International Financial Reporting Standards (IFRS) as their accounting method. The goal of GAAP is to standardize ...