IASB vs FASB Before moving ahead, it would be pertinent to know the full forms of IASB and FASB. IASB is an acronym that stands for International Accounting Standards Board whereas FASB refers to Financial Accounting Standards Board. The two boards are international bodies that have been trying to evolve uniform financial accounting standards applicable […]
GAAP vs IASB With increase in international trade and also the size of companies operating in a number of countries, it became imperative for the world to have a uniform accounting standard applicable on all countries. This initiative was taken by International Accounting Standard Board (IASB) to set a framework of guidelines, known as GAAP, […]
IFRS vs Canadian GAAP IFRS and Canadian GAAP are two accounting standards, the first is an international standard while the other is applicable to businesses in Canada only. To make accounting uniform so that the results of financial statements are more transparent and nearly similar in different parts of the world, International Accounting Standards Board (IASB) […]
IAS vs IFRS As IAS and IFRS are standards in the accounting practice that one adheres to in financial reporting, it is important to know the difference between IAS and IFRS. There was a need in the 1960’s to standardize accounting processes and reporting in order for practically anyone to understand the financial statements of […]
