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Generally Accepted Accounting Principles

  1. Moody's sees $14.5bn FX fines for top banks

    Under both US Generally Accepted Accounting Principles (Gaap) and International Financial Reporting Standards (IFRS), companies are required to recognise loss contingencies when a loss is deemed 'probable' and the amount can be 'reasonably...

  2. Profession struggles with varying models

    Taking away a few differences, the ED substantively re-proposes the amendments under FAS 157-4 and is now in line with US generally accepted accounting principles (GAAP).The significance of this is relevant in the choice of method to determine...