Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Publication Type
Articles 1 - 3 of 3
Full-Text Articles in Accounting
A U.S. Manager's Guide To Differences Between Ifrs And U.S. Gaap, James F. Sander, Susan B. Hughes
A U.S. Manager's Guide To Differences Between Ifrs And U.S. Gaap, James F. Sander, Susan B. Hughes
James F. Sander
International Financial Reporting Standards (IFRS) are now required for consolidated financial reports for all European Union exchange-listed companies. Officials estimated that for 2005, the initial year of EU adoption, 8,000 financial statements were prepared in accordance with IFRS for the first time. 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. But existing …
The International Financial Reporting Standards And Their Implementation Into The Us Accounting System, Mindyleigh Dols
The International Financial Reporting Standards And Their Implementation Into The Us Accounting System, Mindyleigh Dols
Honors Scholar Theses
This paper examines the differences between the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP). The areas closely examined are the differences inrevenue recognition and reporting of intangibles. By investigating the differences in the two sets of standards I put into context the changes that would be necessary for domestic companies adopting the IFRS. The differences between these two standards are important because the implementation of IFRS into the U.S. is a current issue for domestic companies. It is important to note how the new standards will affect different companies in different ways. Depending on the size …
Ifrs V. U.S. Gaap: Impact On A Company's Earning And Activities, Linda Li
Ifrs V. U.S. Gaap: Impact On A Company's Earning And Activities, Linda Li
Honors College Theses
Should the United States (U.S.) companies use International Financial Reporting Standards (IFRS) instead of the U.S. Generally Accepted Accounting Principles (U.S. GAAP)? This paper examines the degree of deviation between the firms' earnings, under both financial reporting languages, and the causes for the change in earnings. Utilizing two methods, introduced in this paper, as well as t-testing, the sampled firms reported higher earnings under IFRS. The change in earnings was caused by: financial instruments, minority interest, pension activities, and or share-based compensation activities. Based on the analyses, the firms appear healthier under IFRS than under the U.S. GAAP in terms …