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Discover how SAP solutions lay a solid foundation for audits and next level PCAOB or AICPA compliance reviews. Education and Outreach: The FASB provides educational resources and conducts outreach activities to enhance understanding and implementation of accountingstandards. Why Should You Care?
In addition, global companies need the flexibility to comply and report according to multiple accountingstandards. For leasing, this means International AccountingStandards Board’s (IASB’s) IFRS 16 and US GAAP Financial AccountingStandards Board’s (FASB’s) ASC 842.
One important side effect of the ongoing trend toward globalization is the need to comply with a range of different accounting principles as well as with disparate reporting and compliance mandates. Parallel Ledgers - in which multiple ledgers are used, with an accounting principle applied to each ledger.
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