COMPANY FINANCIAL STATEMENTS AND COMPARMENT BETWEEN U.S.GAAP AND IFRS
COMPANY FINANCIAL STATEMENTS AND COMPARMENT BETWEEN U.S.GAAP AND IFRS

Summary/Abstract: The paper is a overview if you prepare financial statements in accordance with U.S. Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). International Financial Reporting Standards (IFRS) are now required for consolidated financial reports for all European Union exchange-listed companies. Other countries have also adopted IFRS or IFRS-equivalent financial reporting standards. IFRS differ from U.S. Generally Accepted Accounting Principles (GAAP) in many key areas. The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are working on various convergence projects designed to reduce or eliminate differences between the two sets of reporting standards

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