The new international accounting standard is aimed at more consistent reporting that’s better aligned with how businesses are ...

The drumbeats in the jungle are getting louder: Like Paul Revere's midnight ride, the drums are booming out lyrics to an unfamiliar tune that sounds like: "IFRS is coming! IFRS is coming!" If you ...

Until January 2018, the hedge accounting guidance under U.S. GAAP and IFRS was fairly aligned. However, the new International Financial Reporting Standard for financial instruments, IFRS 9, diverges ...

GAAP reports in detailed, precise formats; IFRS allows flexible, principle-based reporting. GAAP does not permit asset value recovery post-impairment; IFRS allows revaluation. IFRS does not mandate ...

IFRS 17, which goes into effect in 2021, represents one of the most significant shifts to insurance accounting requirements in the last 20 years. Workday and Aptitude Software have partnered to create ...

At the beginning of this year, Kenyan banks joined their global peers in adopting the International Financial Reporting Standards 9 (IFRS 9), ushering in a significant shift in accounting for ...

The International Accounting Standards board (IASB or board) has recently released the third edition of its IFRS for SMEs ...

Financial authorities have decided to discontinue the application of the so-called "exceptional accounting" previously ...

Underwriters are battling to beat the six months deadline given by the National Insurance Commission (NAICOM) within which they are expected to submit their audited and approved International ...