A comparison of the conceptual frameworks underlying International Financial Reporting Standards (IFRS / IAS) and … American Generally Accepted Accounting Principles (US GAAP) reveals a striking theoretical similarity between the two … defines 10 accounting elements and, apart from three (assets, liabilities and equity), none are directly comparable to the …

Financial accounting has been playing an important role in the economic system in the USA, since it has been supporting … accounting information about accounting entity to its users who do not take direct part in its management. Reliability of … information is secured by generally accepted accounting principles (GAAP). Their publication is carried out by Financial …

The article deals with the process of European accounting harmonisation. The process of European accounting … harmonisation is divided into several historical phases including an overview of EC regulations on accounting. Description of the … process of implementation of International Accounting Standards into the European law system, known as endorsement mechanism …

This exposition focused to some basic problems by definition of the microeconomic (and accounting) category "revenue … accounting performances, in the first place, income statements. As canonic texts was make use of directives EU, International … Accounting Standards, Financial Accounting Standards in USA and Czech law. Theoretically compared are the functions of revenue …

major accounting principles - IAS/IFRS and US GAAP. Both of the principles address following issues: * initial recognition … conditions according to IAS/IFRS; * impairment: IAS/IFRS allow to cancel or adjust the impairment towards the original value of … value of the asset; * IS /IFRS use historical costs based treatment and allowed alternative treatment - revaluation, US GAAP …

Reporting Standards (IFRS / IAS) and American Generally Accepted Accounting Principles (US GAAP). Both systems define the … continental European countries) exists, the January 1, 2005 transition to IFRS is thus presenting the Czech and European … accounting professions with challenge of historic proportion, a challenge such scope and magnitude that it has no modern day …