Why the entire world transfers from GAAP to IFRS?

Question added by Tarek Elgendy, CMA , Finance Manager , TOSHIBA
Date Posted: 2017/08/14

Upvote (0) Views (2) Followers (1) Answers (1) Report Question

by Z T , FINANCE MANAGER , AFRIMAX GROUP

Financial reporting harmonisation and facilitating common uderstanding of financial information for investment and other financial decisions.

What is the difference between the IASB and FASB And the GAAP and IFRS?
Top Answer: Accounting is the art of recording transactions in the best manner possible, so as to enable the reader t ... See More

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There is Main difference between IFRS [International Financial Reporting Standards] and Saudi GAAP [Generally Accepted Accounting Principles] ?
Top Answer: IFRS is a principle of the standard-based approach and is used internationally, while GAAP is a rule-base ... See More

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What is the difference between IFRS and US GAAP in revenue recognition?
Top Answer: In terms of revenue recognition, the IFRS guidelines are much more general in their requirements than GAA ... See More

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IFRS is considered to be more:
Top Answer: Option A. IFRS is more principle base.................... See More

Answers (4)

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