GAAP and IFRS

GAAP and IFRS

The Importance of Accounting Comparability

Could deviating from industry norms and employing atypical accounting choices hurt companies and managers?

Ahmet Kurt
July 6, 2020
GAAP and IFRS

BP Faces $17.5B Q2 Hit

The oil giant lowered its oil price expectations through 2050 due to the COVID-19 pandemic.
FP&A

Five Accounting and Reporting Considerations Before Reopening

Companies must now adjust to a yet-evolving new normal.
Accounting

Buffett Rebuffed

The Berkshire chairman decried the FASB mandate on new reporting for unrealized gains and losses. His airline holdings proved him wrong.
Accounting

Is It Time to Reevaluate the Wisdom of Brand Writedowns?

Accounting rules for intangible assets may cloud CFOs' appreciation of the long-term damage that writing down the value of brands may cause.
GAAP and IFRS

IASB Proposes Changes to Reporting of Profit and Income

The proposals represent "a game changer in the comparability and usefulness of financial statements," said IASB Chair Hans Hoogervorst.
Financial Reporting

Bridging the Gaps in GAAP

Here are eight critical considerations for combating the creativity crisis in accounting.
Accounting

Is COVID-19 a Triggering Event for Impairment Testing?

Once companies are able to assess impacts to actual and forecasted results, they should consider whether such impacts represent a triggering event.
GAAP and IFRS

Has Non-GAAP Reporting Become an Accounting Chasm?

Aggressive use of non-GAAP numbers is creating a crisis in how investors, analysts, and the media report financial performance and value companies.
GAAP and IFRS

FASB Proposes Later Standards Deadlines for Private Companies

The Financial Accounting Standards Board says it wants to make a two-year stagger of implementation deadlines standard practice.
GAAP and IFRS

FASB Gives Private Companies Breathing Room on Lease Accounting

FASB members voted unanimously to propose moving back the effective date for lease accounting and two other major new accounting standards.
GAAP and IFRS

Goodwill Impairment Testing: Time to Revisit?

FASB’s invitation to comment on goodwill accounting lays out possible cases for doing away with or improving impairment testing.
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