Skip to main content
Indietro

GAAP vs. IFRS: Analysis and Income Statement Presentation definitions

I pulsanti di controllo sono stati cambiati in modalità "navigazione".
1/15

Termini in questo insieme (15)

  • GAAP
    US accounting framework established by FASB, characterized by detailed, rules-based standards for financial reporting.
  • IFRS
    International accounting standards set by IASB, emphasizing a principles-based approach and global comparability.
  • FASB
    US organization responsible for developing and issuing the official accounting standards known as GAAP.
  • IASB
    International body that formulates and updates IFRS, aiming for consistency in global financial reporting.
  • Horizontal Analysis
    Analytical method comparing financial data across multiple periods to identify trends and growth patterns.
  • Vertical Analysis
    Technique expressing each item in a financial statement as a percentage of a base figure within the same period.
  • Ratio
    Quantitative relationship derived from financial statement figures, used to assess performance and position.
  • Operating Items
    Transactions and events arising from a company's core, day-to-day business activities.
  • Unusual Items
    Non-recurring transactions or events not part of regular business operations, such as one-time losses or gains.
  • Discontinued Operations
    Segments of a business that have been disposed of or are held for sale, reported separately from ongoing activities.
  • Change in Accounting Principle
    Switch in accounting methods, requiring retroactive adjustment to prior financial statements for comparability.
  • Change in Accounting Estimate
    Revision of a previous judgment or assumption, applied prospectively without altering past financial statements.
  • Comprehensive Income
    Total financial performance including net income and other items like unrealized gains and losses not in net income.
  • Revaluation
    Adjustment of the carrying value of long-term assets to reflect current fair value, permitted under IFRS.
  • LIFO
    Inventory valuation method where the most recently acquired items are assumed sold first; not allowed under IFRS.