US GAAP and the Financial Crisis

US GAAP
Knowledge Center

Forum
SHADOW
Manager, Morocco

US GAAP and the Financial Crisis

What was the role of US GAAP to check over the failing in the financial system?

  George Carter
Strategy Consultant, United States
 

Comparison of US GAAP to Ifrs

I agree to the core basis of the statement;however there is a difference between US GAAP and IFRS that needs mentioning. An underlying element of US GAAP is the consistent application of generally accepted accounting principles used to develop the financial statement that may not exist with IFRS developed statements. (Currently there is a difference with IFRS concepts developed in one country to IFRS statements developed in other countries. This difference which may or may not reflect some material changes does not result in the consistent application. And may result in an apple to orange comparison for IFRS developed statements against the apple to apple statements when the statements are developed using US GAAP.

 

More on US GAAP:
Summary
Forum
Differences Between US GAAP & IFRS
👀US GAAP and the Financial Crisis
Market value differing significantly from book values
Comprehension of US GAAP
Exchange Ratio Statement
🔥US-GAAP Costs versus Capitalization
Special Interest Group

Do you have a keen interest in US GAAP? Become our SIG Leader

US GAAP
Knowledge Center



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2022 12manage - The Executive Fast Track. V15.8 - Last updated: 3-7-2022. All names of their owners.