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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 […]
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 […]
GAAP vs IFRS GAAP vs IFRS GAAP and IFRS are two of the accounting rules and guidelines that regulate the financial reporting standard. All over the world, different procedures for computing financial results of companies are being observed which are known as their versions of GAAP or local GAAP. This is nothing but generally accepted […]
GAAP vs IAS To talk about differences between GAAP and IAS, we first need to have an understanding of the two concepts. For a layman, GAAP refers to General Accepted Accounting Principles that are a framework within which financial statements of any company are prepared, summarized and analyzed. They reflect the standards, rules and conventions […]
