US GAAP and IFRS Convergence in the Area of Revenue Recognition

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F09%3A00150399" target="_blank" >RIV/62156489:43110/09:00150399 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
US GAAP and IFRS Convergence in the Area of Revenue Recognition
Original language description
In 2001 the IASB was given a strong mandate by major constituents of the worlds capital markets to develop a single set of high-quality accounting standards. The effort was aimed at spreading of IFRS around the world and the FASB -- IASB Convergence Program. The most significant difference between the US GAAP and the IFRSs is in the area of the general approach. IFRSs are based on basic accounting principles with limited application guidance, US GAAPs are based especially on rules with specific application guidance. The FASB and IASB initiated their joint project on revenue recording to converge the IFRS and the US GAAP in this area. The main objective of paper is a comparative analysis of revenue recognition under both systems and evaluation of the most significant differences in revenue recognition and measurements as a starting point for the preparation of the new general standard for revenue recognition.
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Publication year
2009
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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