[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-30798":3,"doc-seo-30798":21},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"file_id":15,"file_url":16,"file_type":17,"file_size":18,"view_count":4,"is_deleted":4,"is_public":19,"is_downloadable":19,"audit_status":19,"update_tm":20},30798,8796095461564,"Liam","https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d",8,"Research & Report","IFRS vs US GAAP","This document provides a comparative analysis of International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (US GAAP). It highlights key differences in their organizational structure, asset valuation, revenue recognition, and treatment of research and development costs. IFRS, issued by the International Accounting Standards Board (IASB), is followed in over 110 countries and allows assets to be revalued to fair market value. It prohibits the use of LIFO (Last-In, First-Out) for inventory costing to prevent income manipulation during inflationary periods, and revenue is recognized when control is transferred. In contrast, US GAAP, issued by the Financial Accounting Standards Board (FASB), is primarily used in the United States. Under US GAAP, assets are typically kept at historical cost, and revenue is recognized when it is earned and realized. While IFRS treats research as an expense and development as a capitalized cost if certain conditions are met, US GAAP generally expenses most research and development costs. The visual elements further reinforce these distinctions through clear labels and comparative statements, making this a valuable resource for understanding the fundamental differences between these two major accounting frameworks.","cbCaihqunce1MYlv","https://ap.wps.com/l/cbCaihqunce1MYlv","pdf",7750548,1,1778361545,{"code":4,"msg":22,"data":23},"ok",{"site_id":24,"language":25,"slug":26,"title":13,"keywords":27,"description":14,"schema_data":28,"social_meta":62,"head_meta":64,"extra_data":66,"updated_unix":20},105,"en","ifrs-vs-us-gaap","",{"@graph":29,"@context":61},[30,47],{"@type":31,"itemListElement":32},"BreadcrumbList",[33,37,41,44],{"item":34,"name":35,"@type":36,"position":19},"https://docshare.wps.com","Home","ListItem",{"item":38,"name":39,"@type":36,"position":40},"https://docshare.wps.com/document/","Document",2,{"item":42,"name":12,"@type":36,"position":43},"https://docshare.wps.com/document/research-report/",3,{"item":45,"name":13,"@type":36,"position":46},"https://docshare.wps.com/document/ifrs-vs-us-gaap/30798",4,{"url":45,"name":13,"@type":48,"author":49,"headline":13,"publisher":51,"fileFormat":54,"description":14,"dateModified":55,"datePublished":55,"encodingFormat":54,"isAccessibleForFree":56,"interactionStatistic":57},"DigitalDocument",{"name":9,"@type":50},"Person",{"url":34,"name":52,"@type":53},"DocShare","Organization","application/pdf","2026-05-09",true,{"@type":58,"interactionType":59,"userInteractionCount":4},"InteractionCounter",{"@type":60},"ViewAction","https://schema.org",{"og:url":45,"og:type":63,"og:title":13,"og:site_name":52,"og:description":14},"article",{"robots":65,"canonical":45},"index,follow",{"doc_id":7,"site_id":24}]