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Learn about the history, adoption, and conceptual framework of IFRS, the global accounting standards issued by the IFRS Foundation and the IASB. Compare IFRS with US GAAP and other national standards, and see the profiles of IFRS use in 166 jurisdictions.
IFRS 15 is an international accounting standard that provides guidance on how to account for revenue from contracts with customers. It has five steps: identify the contract, identify the performance obligations, determine the transaction price, allocate the price, and recognize revenue.
This web page provides a comprehensive list of the IFRSs and official interpretations, as set out by the IFRS Foundation. It includes the title, origin, effective date, withdrawal and supersession status of each standard, interpretation and practice statement.
GAAP stands for Generally Accepted Accounting Principles, the accounting standard adopted by the U.S. Securities and Exchange Commission. Learn about the basic concepts, principles, constraints, and sources of GAAP, as well as the history and standard-setting process.
Insurance Services Office, Inc. (ISO), a subsidiary of Verisk Analytics, is a provider of statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services.
Learn about the ten standards of auditing in the United States, issued by the AICPA, and their relation to the International Standards on Auditing. Find out how the standards are clarified and revised by the Clarity Project.
GASB is a private, non-governmental organization that sets and improves accounting and financial reporting standards for state and local governments in the US. It is overseen by the Financial Accounting Foundation and issues various documents defining GAAP since 1984.
The IASC was founded in 1973 and dissolved in 2001, developing a set of International Accounting Standards (IAS) that were later adopted as International Financial Reporting Standards (IFRS). The IASC was an initiative of national accountancy bodies from various countries, and its membership expanded over time to include some non-auditor organizations.