In this video, we'll perform a beginners dive deep into the world of accounting and explore IFRS versus GAAP. We'll cover 10 things you should know about the differences between International Financial Reporting Standards (IFRS) which is a set of accounting standards used globally, and Generally Accepted Accounting Principles (GAAP) is specific to the United States

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#IFRS #accounting #GAAP #GAAPaccounting #IFRSaccounting #stockmarket #stock #stocksforbeginners #investing #valueinvesting

(Recorded June 5, 2023)

❖ MUSIC ❖

♪ "Lift"

Artist: Andy Hu

License: Creative Commons Attribution 3.0

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00:00 Introduction

00:38 #10 Global vs US focus

01:09 #9 Principles vs Rules Based Approach

01:45 #8 Accounting Standards Setting Bodies

02:23 #7 Reporting Format

02:55 #6 Valuing Inventory

03:25 #5 Research and Development (R&D)

03:57 #4 Fair Value Measurement

04:32 #3 Leasing Standards

04:59 #2 Revenue Recognition

05:27 BONUS

06:07 #1 Disclosure Requirements

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Shownotes Transcript

10 Things You Should Know About IFRS vs GAAP