To start with, International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the ...

Principles-based accounting seems to be the ... The International Financial Reporting Standards (IFRS) system—the most common international accounting standard—is not a rules-based system.

There are differences between how the U.S. Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS) treat unusual or infrequent income or expense ...