Nicolas Pologeorgis has 24+ years of experience in academic consulting. He has held administrative and faculty positions in various institutions. GAAP is rules-based; IFRS is principles-based. U.S.

There are two dominant systems of accounting used by corporations around the world. In the U.S., companies use the generally accepted accounting principles, or GAAP, while international companies use ...

U.S. public companies must follow the GAAP rules in preparing their financial statements David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, ...

THERE IS A CLEAR TREND toward adopting IFRS as the single body of internationally accepted financial reporting standards. In the next few years, thousands of companies will move to IFRS as a primary ...