Development of the common standard for revenue recording as a part of the US GAAP and IAS/IFRS systems convergence

Article English OPEN
Hana Bohušová;
  • Publisher: Mendel University Press
  • Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis (issn: 1211-8516, eissn: 2464-8310)
  • Publisher copyright policies & self-archiving
  • Related identifiers: doi: 10.11118/actaun200957060029
  • Subject: Agriculture | assets and liabilities approach | revenue | S | earning process | Biology (General) | QH301-705.5
    acm: TheoryofComputation_MISCELLANEOUS

The most significant difference between US GAAP and IFRSs is in the area of general approach. IFRSs are based on basic accounting principles1 with limited application guidance, US GAAPs are based especially on rules with specific application guidance. FASB and IASB init... View more
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