How do U.S. GAAP and IFRS differ with regard to recognition of contingencies?
Answer to relevant QuestionsWhat is recycling and how does it apply to comprehensive income?What eventually happens to the revaluation surplus? Among the differences between U.S. GAAP and IFRS listed in this section, which two do you feel the most difficult to reconcile and why? What are some options that have been eliminated under IFRS for SMEs?Why may IFRS for SMEs have an important impact of financial reporting in the United States?
Post your question