Register

What is the difference between GAAP and IFRS?

What is the difference between GAAP and IFRS?
asked 37.5k views
15 votes
What is the difference between GAAP and IFRS?

asked
User ISofia
by
8.1k points

2 Answers

11 votes

Answer:

GAAP is rules-based and IFRS is principles-based.

answered
User Gottox
by
8.9k points
1 vote
GAAP is rules-based and IFRS is principles-based.
answered
User Andreas Kahler
by
8.9k points
← Prev Question Next Question →

Related questions

User Pdamoc
asked Jun 15, 2024 66.0k views
IFRS establishes presentation minimums for interim financial reporting. U.S. GAAP does not. A. True B. False
Pdamoc asked Jun 15, 2024
by Pdamoc
9.0k points
1 answer
4 votes
66.0k views
User Badroit
asked May 20, 2024 214k views
Under U.S. GAAP or IFRS, what are the two ways comprehensive income may be presented?
Badroit asked May 20, 2024
by Badroit
8.1k points
1 answer
2 votes
214k views
Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

Who was Adam Smith ? Anybody?
What can turn igneous rock into sediment?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
Link Copied!