Do you want to know what is going to change when the new international standards are adopted? The AICPA has now created a wiki comparing the streamlined and complete version of the international standards using IFRS vs US GAAP for SME’s (Small and Medium Sized Entities). All of the sections of the IFRS will be updated in a wiki format on a go forward basis.
You can now see how the new rules will apply to private companies. As the rules become evident and adoption more likely, this site will be a great resource for navigating change. To see the comparison, go to the following site: wiki.ifrs.com.
If you want to learn the 9 things that you need to look at in your financial statements, then click here to access our Financial Statement Cheatsheet.