Identify whether the elements below are elements under U.S. GAAP. IFRS, or both, and point-in-time or period-in-time elements.

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td> Element Investments by owners Income Losses Liabilities Equity Comprehensive income Assets Gains Capital maintenance adjustment. Expenses Distributions to owners Revenues U.S. GAAP, IFRS, or Both Point In Time or Period of Time Performance td> Element Investments by owners Income Losses Liabilities Equity Comprehensive income Assets Gains Capital maintenance adjustment. Expenses Distributions to owners Revenues U.S. GAAP, IFRS, or Both Point In Time or Period of Time Performance

Answer rating: 100% (QA)

Generally Accepted Accounting Principles GAAP It is the common set of procedures Principles and accounting standards which are universally followed by companies while recording and reporting their fin... View the full answer