USGAAP和IFRS差异概要
US GAAP 和IFRS 差异概要
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kdg1. Locally vs. Globally
As mentioned, the IFRS is a globally accepted standard for accounting, and is ud in more than 110 countries. On the other hand, GAAP is exclusively ud within the United States and has a different t of rules for accounting than most of the world. This can make it more complicated when doing business internationally.
2. Rules vs. Principles
A major difference between IFRS and GAAP accounting is the methodology
torresud to asss the accounting process. GAAP focus on rearch and is rulebad, whereas IFRS looks at the overall patterns and is bad on principle.
With GAAP accounting, there’s little room for exceptions or interpretation, as all transaction
s must abide by a specific t of rules. With a principle-bad accounting method, such as the IFRS, there’s potential for different interpretations of the same tax-related situations.名词性从句专项练习
3. Inventory Methods
Under GAAP, a company is allowed to u the Last In, First Out (LIFO) method for inventory estimates. However, under IFRS, the LIFO method for inventory is not allowed. The Last In, First Out valuation for inventory does not reflect an accurate flow of inventory in most cas, and thus results in reports of unusually low income levels.
4. Inventory Reversal大学生英语四级成绩查询
专业英语翻译网站In addition to having different methods for tracking inventory, IFRS and GAAP accounting also differ when it comes to inventory write-down reversals. GAAP specifies that if the market value of the ast increas, the amount of the writedown cannot be reverd. Under IFRS, however, in this same situation, the amount of the write-down can be revers
ed. In other words, GAAP is overly cautious of inventory reversal and does not reflect any positive changes in the marketplace.
5. Development Costs
A company’s development costs can be capitalized under IFRS, as long as certain criteria are met. This allows a business to leverage depreciation on fixed asts. With GAAP, development costs must be expend the year they occur and are not allowed to be capitalized.
6. Intangible Asts
When it comes to intangible asts, such as rearch and development or advertising costs, IFRS accounting really shines as a principle-bad method. It takes into account whether an ast will have a future economic benefit as a way of asssing the value. Intangible asts measured under GAAP are recognized at the fair market value and nothing more.
7. Income Statements
Under IFRS, extraordinary or unusual items are included in the income statement and not gregated. Meanwhile, under GAAP, they are parated and shown below the net income portion of the income statement.
8. Classification of Liabilities
The classification of debts under GAAP is split between current liabilities, where a company expects to ttle a debt within 12 months, and noncurrent liabilities, which are debts that will not be repaid within 12 months. With IFRS, there is no differentiation made between the classification of liabilities, as all debts are considered noncurrent on the balance sheet.
9. Fixed Asts
cf的英文When it comes to fixed asts, such as property, furniture and equipment, companies using GAAP accounting must value the asts using the cost model. The cost model ta
kes into account the historical value of an ast minus any accumulated depreciation. IFRS allows a different model for fixed asts called the revaluation model, which is bad on the fair value at the current date minus any accumulated depreciation and impairment loss.和莎莫的500天电影
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