IFRS vs. GAAP: Key Differences in Accounting Standards Explained

Discover the key differences between IFRS and GAAP accounting standards, and learn how they impact financial reporting for businesses globally.
Houston Chronicle

What Are the Benefits of International Accounting Standards?

If you own a small business in the U.S. that is privately held but sells goods and services overseas, the Securities and Exchange Commission doesn't require your company to adhere to the generally ...

Accounting Interpretation: Definition, Purpose, and Real-World Example

Learn about accounting interpretations, why they matter, and how they clarify standards, prevent errors, and provide consistency in financial reporting.
JournalofAccountancy

Getting familiar with OPEB

In June 2015, GASB issued Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, and Statement No. 75, Accounting and Financial Reporting for Postemployment ...
Forbes

What The World Needs Now: Sustainability Accounting Standards

“The new SASB standards allow us—for the first time—to identify and measure exposure to climate risk across companies and industries. Climate change affects all markets and presents risks that ...
Houston Chronicle

The Difference Between Principles & Rules Based Accounting Standards

In accounting, a principles-based on approach is the most popular accounting method globally because it is usually better to adjust accounting principles to a company's transactions, rather than ...