Comparing GAAP Vs IFRS
The United States of America uses a type of rule-based accounting standards called GAAP (Generally Accepted Accounting Principles) while over 110 countries around the world abide by a principle-based accounting system called IFRS (International Financial Reporting Standards). There are some differences between the frameworks of the two accounting standards, but there are also a striking amount of similarities. A question then arises: why does most of the world use IFRS while the United States uses GAAP?The 20 Rules of Money
Money rules. There’s no doubt about that but what you do with the one you have can ultimately decide your financial freedom. And here’s 20 Rules of Money where you get to learn how to manage money and put in where it’s supposed to be to avoid regrets later in life.5 Practical Tips for Lifelong Financial Sustainability
Sustainability is usually a term about environmental issues. Lately it’s become more of a personal finance term as well. That’s because financial decisions need to be sustained over the long term. To sustain you and your family over time, Financial Sustainability means planning and flexibility. Having Plans B, C and D is a necessity.Differences in IFRS and GAAP With Inventory
One of the major differences with GAAP and IFRS in regards with inventory is the fact that IFRS does not allow the use of LIFO. GAAP allows the use of FIFO, LIFO, and weighted average. While IFRS only allows the use of FIFO and weighted average. These methods effect net income, which can increase or decrease the taxes a company will have to pay.All About Money Transfer
With so many options available, it is very important to make the right choice to avoid paying an exorbitant fee to transfer money. There are three basic factors to be considered while transferring money.What Is The Best Way to Send Money Online to Family and Friends?
While we Brits are often thought of as ‘home birds’, data has shown that this is not always true and many of us are choosing to spread our wings and move overseas. For those making the decision to abandon home soil in the search for pastures new, there is undoubtedly a lot to consider. But what about those they leave behind?A New Tool To Address Special Needs
In Washington’s current hyper-partisan climate, a law with strong bipartisan support is worthy of notice. Yet one such law, which had the further distinction of creating a new financial planning option for individuals with disabilities and their families, may have flown under your radar as 2014 wound to a close.