Claim:U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS) have converged in several areas but still differ in application and in the amount of professional judgment required.NOT BS
Claim:International Financial Reporting Standards (IFRS) prohibit the use of the Last-In, First-Out (LIFO) inventory costing method, while U.S. Generally Accepted Accounting Principles (U.S. GAAP) permit the use of LIFO in some circumstances.NOT BS
Claim:Differences between IFRS and U.S. GAAP in revenue recognition, lease accounting, and accounting for intangible assets can create consolidation challenges.NOT BS
Claim:Differences between IFRS and U.S. GAAP in the recognition and measurement of assets, liabilities, revenues, and expenses can make consolidating an Ireland-based operation with a U.S.-based parent company more difficult.NOT BS
Claim:Consolidating an Ireland operation with a U.S. parent requires translating euro-denominated accounting records into U.S. dollars using appropriate currency translation methods.HARDLY BS
Claim:International Financial Reporting Standards (IFRS) are often described as principles-based, while U.S. Generally Accepted Accounting Principles (U.S. GAAP) are often described as rules-based.NOT BS
Claim:Scientists warned that there is a secret base on the Moon after a giant fleet of UFOs was spotted on the Moon's surface, as reported by the Daily Mail.HARDLY BS
Claim:Numerous medical conditions and polypharmacy (use of multiple medications) combinations, many of which are common, can contribute to Patient Health Questionnaire-9 (PHQ-9) scores of 10 or higher.NOT BS