Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals, and costing formulas.

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 ...

In the area of fixed assets and the resultant depreciation there are some major differences between the GAAP rules codified in ASC Topic 360 and the IFRS rules in IAS 16. Processing Content In GAAP ...

Merchants and manufacturers rely on the sale of inventory to create gross profits. Whether you purchase your inventory or make it yourself, you need to observe the relevant accounting standards to ...

PricewaterhouseCoopers has released a useful report demonstrating the many differences that remain between U.S. GAAP and International Financial Reporting Standards. Processing Content Despite more ...

While the SEC moves toward a 2011 vote on whether to require U.S. public companies to report using IFRS, a more compact version of the international standards is ...

Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors. A study on IFRS showed that 50% of companies demonstrated higher equity under IFRS accounting standards than GAAP ...

The transition to international financial reporting standards (IFRS) from Canadian generally accepted accounting principles (GAAP) has had a noticeable impact on the financial statements of Canadian ...

For U.S. GAAP, the end of an era could be in the making. In August, the SEC unveiled a proposed road map that begins to widen the acceptance of International Financial Reporting Standards. The plan ...