All publicly traded companies must annually disclose their financial performance to the public: GAAP audits ensure that these disclosures are valid. Every year, independent accountants review a ...

A new 23-page Technical Question & Answer (TQA) document issued by the AICPA will help preparers and practitioners determine if their client is a public business entity under the updated U.S. GAAP ...

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 ...

The company reports its financial results in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). However, management believes that also presenting certain ...