GAAP for leases, differences with IASB, direct and sales typ

Related BrainMass Solutions

• IFRS and GAAP Reporting Standards

  444916 IFRS and GAAP Reporting Standards For convergence of FASB and IASB reporting standards, you describe recommendations for resolving differences and your opinion which is better for company. 1. Revenue Recognition, 2.

• US GAAP vs IFRS: Principles Based or Rules Based

  It has been stated that, "accounting for leases is addressed in six IASB pronouncements and one interpretation. In contrast, U.S.

• Should FASB converge with IASB? How will impact auditing st

  The governing body that issues US GAAP, the FASB, is trying to "harmonize" or "converge" with the governing body that issues international GAAP, the IASB.

• Convergence of IFRS and U.S. GAAP on financial performance

  Generally Accepted Accounting Principles (GAAP). Furthermore, the Board conducts several joint projects with the IASB, and it works with the IASB on the short-term convergence project.

• This posting addresses IASB FASB differences.

  The direct method reports cash changes that are based on how much either paid for or received as a result of various activities. The indirect method starts with income and making adjustments to arrive at cash flow.

• Financial Accounting Standards Board: Convergence of IFRS and GAAP

  The project seeks to identify all of the substantive differences between U.S. GAAP and IFRS and to catalog those differences according to the Board's strategy for resolving them.

• SEC and European equivalent views of GAAP

  SEC reporting has become much more stringent and since US GAPP is more stringent than IASB GAAP it does not look very hopeful there will be a merging of the systems any time soon. Differences in SEC and European GAAP views.

• FASB and IASB current convergence

  (c) The Handbook to IFRS Transition and to IFRS U.S. GAAP Dual Reporting, Francesco Bellandi, John Wiley & Sons, 2012. This solution explains how US GAAP and IFRS are different and how these differences should be reduced.

• GAAP Vs. IFRS Treatment of Leases

  The US GAAP provides clearer rules for the differences in terms of the capital and operating leases while t he IFRS doesn't have any.