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International Accounting Standards (IAS)
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| U.S. GAAP | IFRS, IAS | Accounting Topics |
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| International Accounting Standard (IAS) 10 |
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--> adjust the financial statement amounts (1) settlement confirming the obligation at the end of reporting period (2) information that an asset was impaired at the end of reporting period (3) assets purchased before the end of reporting period --> cost determined after the reporting period (4) detection of fraud or errors --> that caused incorrect amounts in the financial statements |
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--> do not adjust the financial statement amounts (1) market value of investments --> declined after the reporting period (2) dividends --> declared after the reporting period |
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