Entries by Matthew Creamer

Lease Reporting Requirements: International Financial Reporting Standards (IFRS) vs Generally Accepted Accounting Principles (GAAP)

Both the International Financial Reporting Standard (IFRS) update, effective from January 1, 2024, and the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC) Topic 842 aim to enhance lease accounting practices. In this post, we’ll explore the critical provisions of the IFRS update and compare them with ASC 842 to understand the similarities and […]

Financial Accounting Standards Board Issues Final Accounting Standards Update regarding Segment Reporting

On November 27, 2023, the Financial Accounting Stands Board (FASB) issued a final Accounting Standards Update (ASU) related to disclosures about a public entity’s reportable segments. This standards update is ASU No.2023-07, titled Improvements to Reportable Segment Disclosures. The ASU aims to enhance the disclosures public entities provide regarding significant segment expenses so that investors […]