{"id":21311,"date":"2025-12-12T10:05:30","date_gmt":"2025-12-12T10:05:30","guid":{"rendered":"https:\/\/icert.org.in\/?p=21311"},"modified":"2026-02-19T16:15:16","modified_gmt":"2026-02-19T10:45:16","slug":"comparative-study-of-ifrs-and-gaap-in-financial-reporting","status":"publish","type":"post","link":"https:\/\/icert.org.in\/index.php\/2025\/12\/12\/comparative-study-of-ifrs-and-gaap-in-financial-reporting\/","title":{"rendered":"Comparative Study of IFRS and GAAP in Financial Reporting"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"21311\" class=\"elementor elementor-21311\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cbfbe0c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cbfbe0c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bcd6325\" data-id=\"bcd6325\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8da1133 elementor-widget elementor-widget-heading\" data-id=\"8da1133\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Shodh Sari-An International Multidisciplinary Journal<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-49cc353 elementor-widget elementor-widget-heading\" data-id=\"49cc353\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Vol-04, Issue-04 (Oct-Dec  2025)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-938ede7 elementor-widget elementor-widget-heading\" data-id=\"938ede7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">An International scholarly\/ academic journal, peer-reviewed\/ refereed journal, ISSN : 2959-1376<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b93e109 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b93e109\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ae2a3fa\" data-id=\"ae2a3fa\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-80c75c2 elementor-widget elementor-widget-heading\" data-id=\"80c75c2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Comparative Study of IFRS and GAAP in Financial Reporting<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4cd59bd elementor-widget elementor-widget-text-editor\" data-id=\"4cd59bd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: center; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Simran<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: center; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"background-color: transparent; color: #000000; font-family: Arial, sans-serif; font-size: 12pt; white-space-collapse: preserve;\">Professor, Department of Commerce, NIILM University, Kaithal<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e1d4e0b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e1d4e0b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7c55001\" data-id=\"7c55001\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c116497 elementor-widget__width-inherit elementor-widget elementor-widget-elementskit-simple-tab\" data-id=\"c116497\" data-element_type=\"widget\" data-widget_type=\"elementskit-simple-tab.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <div class=\"elementkit-tab-wraper vertical  elementskit-fitcontent-tab \">\n            <ul class=\"nav nav-tabs elementkit-tab-nav \">\n                                    <li class=\"elementkit-nav-item elementor-repeater-item-ca158ed\">\n                        <a class=\"elementkit-nav-link  active show left-pos\" id=\"content-ca158ed69f4f0b9036cd-tab\" data-ekit-handler-id=\"abstract\" data-ekit-toggle=\"tab\" data-target=\"#content-ca158ed69f4f0b9036cd\" href=\"#Content-ca158ed69f4f0b9036cd\"\n                            data-ekit-toggle-trigger=\"click\"\n                            aria-describedby=\"Content-ca158ed69f4f0b9036cd\">\n                            <span class=\"far fa-file-alt elementskit-tab-icon\"><\/span>                            <span class=\"elementskit-tab-title\"> Abstract<\/span>\n                        <\/a>\n                    <\/li>\n                                        <li class=\"elementkit-nav-item elementor-repeater-item-73d9415\">\n                        <a class=\"elementkit-nav-link  left-pos\" id=\"content-73d941569f4f0b9036cd-tab\" data-ekit-handler-id=\"about-author\" data-ekit-toggle=\"tab\" data-target=\"#content-73d941569f4f0b9036cd\" href=\"#Content-73d941569f4f0b9036cd\"\n                            data-ekit-toggle-trigger=\"click\"\n                            aria-describedby=\"Content-73d941569f4f0b9036cd\">\n                            <span class=\"far fa-user elementskit-tab-icon\"><\/span>                            <span class=\"elementskit-tab-title\"> About Author<\/span>\n                        <\/a>\n                    <\/li>\n                                        <li class=\"elementkit-nav-item elementor-repeater-item-e351830\">\n                        <a class=\"elementkit-nav-link  left-pos\" id=\"content-e35183069f4f0b9036cd-tab\" data-ekit-handler-id=\"impact-statement\" data-ekit-toggle=\"tab\" data-target=\"#content-e35183069f4f0b9036cd\" href=\"#Content-e35183069f4f0b9036cd\"\n                            data-ekit-toggle-trigger=\"click\"\n                            aria-describedby=\"Content-e35183069f4f0b9036cd\">\n                            <span class=\"fas fa-file-import elementskit-tab-icon\"><\/span>                            <span class=\"elementskit-tab-title\"> Impact Statement<\/span>\n                        <\/a>\n                    <\/li>\n                                        <li class=\"elementkit-nav-item elementor-repeater-item-bb8dae5\">\n                        <a class=\"elementkit-nav-link  left-pos\" id=\"content-bb8dae569f4f0b9036cd-tab\" data-ekit-handler-id=\"cite-this-article\" data-ekit-toggle=\"tab\" data-target=\"#content-bb8dae569f4f0b9036cd\" href=\"#Content-bb8dae569f4f0b9036cd\"\n                            data-ekit-toggle-trigger=\"click\"\n                            aria-describedby=\"Content-bb8dae569f4f0b9036cd\">\n                            <span class=\"far fa-address-card elementskit-tab-icon\"><\/span>                            <span class=\"elementskit-tab-title\"> Cite this Article<\/span>\n                        <\/a>\n                    <\/li>\n                                <\/ul>\n\n            <div class=\"tab-content elementkit-tab-content\">\n                                    <div class=\"tab-pane elementkit-tab-pane elementor-repeater-item-ca158ed  active show\" id=\"content-ca158ed69f4f0b9036cd\" role=\"tabpanel\"\n                         aria-labelledby=\"content-ca158ed69f4f0b9036cd-tab\">\n                        <div class=\"animated fadeIn\">\n                            <p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: center; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Abstract<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Financial reporting is a cornerstone of transparency, accountability, and trust in both domestic and global business environments. As globalization intensifies capital market integration, the need for uniform and comparable financial information has become critical. The two dominant frameworks guiding financial reporting are the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (GAAP). While both aim to provide reliable and relevant financial information, their conceptual foundations differ significantly\u2014IFRS being principle-based, promoting flexibility and professional judgment, and GAAP being rule-based, emphasizing detailed guidance and compliance. This paper conducts a comprehensive comparative study of IFRS and GAAP, focusing on their structure, recognition, measurement, and disclosure principles. Using qualitative and descriptive research methods supported by secondary data and a case study of Apple Inc., the paper evaluates how the application of each standard influences financial reporting outcomes, investor decision-making, and cross-border comparability. The findings highlight that although convergence efforts between IASB and FASB have narrowed the gap, substantial differences persist in key areas such as revenue recognition, inventory valuation, and lease accounting. The study concludes that global harmonization of accounting standards remains essential for enhancing investor confidence, reducing reporting complexity, and facilitating international trade and investment.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Keywords:<\/span> <span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS, GAAP, Financial Reporting, Accounting Standards, Global Convergence, International Accounting, Transparency, Financial Disclosure, Apple Inc., Harmonization<\/span><\/p>                        <\/div>\n                    <\/div>\n                                    <div class=\"tab-pane elementkit-tab-pane elementor-repeater-item-73d9415 \" id=\"content-73d941569f4f0b9036cd\" role=\"tabpanel\"\n                         aria-labelledby=\"content-73d941569f4f0b9036cd-tab\">\n                        <div class=\"animated fadeIn\">\n                            <p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: center; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">About Author<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: #ffffff; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Dr Simran<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #7a7a7a; background-color: #ffffff; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">\u00a0<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: #ffffff; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> is working as Professor, Department of commerce, NIILM University, kaithal She has 13 years of rich experience in leadership, curriculum development and teaching at school and higher education level. Her area of research is accounting, taxation, human resource management and teaching-learning. She has attended more than 70 conferences, seminars and workshops. She has presented her research in various National and International Conferences. She has been awarded with 8 prestigious Awards.\u00a0Dr. Simran is working as Professor, Department of commerce, NIILM University, kaithal<\/span><\/p>                        <\/div>\n                    <\/div>\n                                    <div class=\"tab-pane elementkit-tab-pane elementor-repeater-item-e351830 \" id=\"content-e35183069f4f0b9036cd\" role=\"tabpanel\"\n                         aria-labelledby=\"content-e35183069f4f0b9036cd-tab\">\n                        <div class=\"animated fadeIn\">\n                            <p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: center; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Impact Statement<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">This study provides critical insights into the comparative effectiveness of IFRS and GAAP in enhancing the quality, transparency, and comparability of financial reporting. By analyzing key differences in recognition, measurement, and disclosure requirements under both frameworks, the research highlights how these standards influence stakeholders\u2019 decision-making and the reliability of financial statements. The findings contribute to the ongoing global convergence efforts by identifying areas where harmonization can improve cross-border investment, reduce reporting complexities, and strengthen financial accountability. Ultimately, this study supports policymakers, regulators, and corporations in developing more consistent and globally relevant financial reporting practices.<\/span><\/p>                        <\/div>\n                    <\/div>\n                                    <div class=\"tab-pane elementkit-tab-pane elementor-repeater-item-bb8dae5 \" id=\"content-bb8dae569f4f0b9036cd\" role=\"tabpanel\"\n                         aria-labelledby=\"content-bb8dae569f4f0b9036cd-tab\">\n                        <div class=\"animated fadeIn\">\n                            <p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: center; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Citation<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">APA 7th Style Citation<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Simran. (2025). Comparative study of IFRS and GAAP in financial reporting. <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Shodh Sari \u2013 An International Multidisciplinary Journal<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">4<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">(04), 330\u2013338. <\/span><a style=\"text-decoration: none;\" href=\"https:\/\/doi.org\/10.59231\/SARI7883\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #0563c1; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;\">https:\/\/doi.org\/10.59231\/SARI7883<\/span><\/a><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Chicago 17th Style Citation<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Simran. &#8220;Comparative Study of IFRS and GAAP in Financial Reporting.&#8221; <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Shodh Sari \u2013 An International Multidisciplinary Journal<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> 4, no. 4 (2025): 330\u2013338. doi:10.59231\/SARI7883.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">MLA 9th Style Citation<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Simran. &#8220;Comparative Study of IFRS and GAAP in Financial Reporting.&#8221; <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Shodh Sari \u2013 An International Multidisciplinary Journal<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, vol. 4, no. 4, 2025, pp. 330-38, doi:10.59231\/SARI7883.<\/span><\/p>                        <\/div>\n                    <\/div>\n                                \n            <\/div>\n                    <\/div>\n    <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ca5aed0 elementor-section-boxed elementor-section-height-default 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class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div class=\"sdm_download_count\"><span class=\"sdm_count_number\">144<\/span><span class=\"sdm_count_string\"> Downloads<\/span><\/div><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5e9a5ee elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5e9a5ee\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7ebfe93\" data-id=\"7ebfe93\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-fc5c3a4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fc5c3a4\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3cd0d27\" data-id=\"3cd0d27\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4a1eae1 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"4a1eae1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">DOI: <\/span><a style=\"text-decoration: none;\" href=\"https:\/\/doi.org\/10.59231\/SARI7883\"><span style=\"font-size: 11pt; font-family: Arial,sans-serif; color: #0563c1; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;\">https:\/\/doi.org\/10.59231\/SARI7883<\/span><\/a><\/p><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Subject: Accounting \/ Finance \/ International Business<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Page No 330-338<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-9ea534e\" data-id=\"9ea534e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b5bc32c elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"b5bc32c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Received: Aug 03, 2025\u00a0<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Accepted: Sep 15, 2025\u00a0<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Published: Oct 20, 2025<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-85472d1 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"85472d1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; margin-top: 0pt; margin-bottom: 8pt;\"><span style=\"font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Thematic Classification: IFRS (International Financial Reporting Standards), GAAP (Generally Accepted Accounting Principles), Financial Reporting, Global Convergence, International Accounting, Transparency, Financial Disclosure, Harmonization<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9b79801 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9b79801\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9636c68\" data-id=\"9636c68\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a178d8f elementor-widget elementor-widget-heading\" data-id=\"a178d8f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Introduction\n<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-94827bc elementor-widget-tablet__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"94827bc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Financial reporting serves as the backbone of any economic system by providing relevant and reliable information to a wide range of stakeholders, including investors, creditors, regulators, and policymakers. It ensures that the performance and financial position of an enterprise are presented in a manner that facilitates sound decision-making and promotes trust in capital markets. The development and adoption of accounting standards have, therefore, become essential in achieving uniformity, transparency, and comparability in financial statements.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Globally, two major accounting frameworks dominate the field of financial reporting\u2014the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (GAAP). IFRS, developed and issued by the International Accounting Standards Board (IASB), aims to provide a common global language for business affairs, enabling companies to be understood and compared across international boundaries. It is adopted in more than 140 countries, including those in the European Union, Asia, and Africa, and serves as a benchmark for global harmonization. On the other hand, GAAP, developed by the Financial Accounting Standards Board (FASB) in the United States, represents a comprehensive, detailed, and rule-oriented approach to accounting, ensuring accuracy, consistency, and compliance within the U.S. regulatory environment.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The fundamental distinction between IFRS and GAAP lies in their philosophical approach to financial reporting. IFRS is principle-based, emphasizing the application of broad accounting principles that require professional judgment and interpretation, which allows flexibility and adaptability to different business situations. Conversely, GAAP is rule-based, providing detailed and specific rules for various accounting treatments, leaving limited scope for interpretation but offering consistency and reduced ambiguity. These differences impact how companies recognize revenue, measure inventory, treat leases, account for intangible assets, and disclose contingent liabilities.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">As global business transactions continue to expand and multinational corporations operate in multiple jurisdictions, the diversity of accounting standards has created challenges in cross-border financial reporting. Investors and analysts face difficulties in comparing financial statements prepared under different frameworks, which may lead to misinterpretations and inefficiencies in global capital markets. Consequently, the convergence of IFRS and GAAP has been a major international accounting initiative, aiming to develop a unified set of high-quality global accounting standards that would enhance transparency, comparability, and economic efficiency.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">In recent years, several efforts have been undertaken by the IASB and FASB through joint projects to align key accounting areas such as revenue recognition, lease accounting, and financial instruments. Despite these advances, full convergence remains a challenge due to differences in legal, cultural, and economic environments, as well as regulatory and political considerations in respective jurisdictions.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Therefore, this study aims to conduct a comparative analysis of IFRS and GAAP, focusing on their conceptual foundations, application in financial reporting, and implications for businesses and investors. By exploring these differences and examining real-world evidence through a case study, this research seeks to provide insights into how these standards influence financial reporting quality, decision-making, and the future prospects for global accounting harmonization.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Research Objectives<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The overarching goal of this study is to undertake a comprehensive comparative analysis of the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), identifying their similarities, differences, and implications in financial reporting.<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"><br \/><\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">To achieve this goal, the study is guided by the following specific objectives:<\/span><b id=\"docs-internal-guid-749c1f38-7fff-a596-0fd3-64617c36e46b\" style=\"font-weight: normal;\"><\/b><\/p><div dir=\"ltr\" style=\"margin-left: 0pt;\" align=\"left\"><table style=\"border: none; border-collapse: collapse;\"><colgroup> <col width=\"83\" \/> <col width=\"214\" \/> <col width=\"159\" \/> <col width=\"167\" \/><\/colgroup><tbody><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Objective No.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Research Objective<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Focus Area<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Expected Outcome \/ Purpose<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">1<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">To analyze the conceptual framework underlying IFRS and GAAP and examine how their philosophical foundations influence accounting practices.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Nature of standards (principle-based vs. rule-based), conceptual underpinnings<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Understanding how theoretical foundations shape accounting treatment and interpretation.<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">2<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">To identify and compare key differences in recognition, measurement, and disclosure of financial elements such as revenue, inventory, leases, and development costs.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Technical and procedural differences between IFRS and GAAP<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Clear identification of major divergences and their implications for financial reporting.<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">3<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">To evaluate the impact of IFRS and GAAP on the quality, transparency, and comparability of financial statements.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Financial statement analysis, investor perspective<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Assessment of how different standards influence reporting credibility and decision-making.<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">4<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">To assess the challenges and opportunities faced by companies transitioning from GAAP to IFRS (or vice versa).<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Conversion process, compliance cost, and investor perception<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Insights into implementation difficulties and benefits for multinational corporations.<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">5<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">To explore the progress of convergence initiatives between IASB and FASB and predict the future of global accounting harmonization.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Global standardization, policy alignment, and regulatory cooperation<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Understanding the future prospects of unified international financial reporting.<\/span><\/p><\/td><\/tr><\/tbody><\/table><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Hypothesis<\/span><\/div><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">H\u2080 (Null Hypothesis):<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> There is no significant difference between IFRS and GAAP in terms of financial reporting quality and comparability.<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"><br \/><\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">H\u2081 (Alternative Hypothesis):<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> There exists a significant difference between IFRS and GAAP in terms of financial reporting quality and comparability.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Methodology<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">This study adopts a qualitative and descriptive research methodology to analyze the comparative dimensions of the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP). The methodology is designed to systematically examine conceptual differences, reporting frameworks, and the implications of these accounting standards for financial transparency and comparability.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Research Design<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The research follows a comparative and exploratory design<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">focusing on identifying and interpreting the conceptual, procedural, and practical differences between IFRS and GAAP. The study does not involve primary data collection through surveys or experiments but relies heavily on secondary data sources<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">,<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> which provide a reliable and comprehensive basis for comparison.<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"><br \/><\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">A qualitative approach was preferred because it allows an in-depth understanding of accounting principles, interpretations, and their effects on reporting outcomes rather than mere numerical analysis.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Data Sources<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The study uses <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">secondary data<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, gathered from reputable and authoritative sources to ensure accuracy and academic reliability. These include:<\/span><\/p><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: 'Noto Sans Symbols',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Publications and official documents from International Accounting Standards Board<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> (IASB)<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> and <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Financial Accounting Standards Board (FASB)<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Accounting handbooks, professional journals, and scholarly articles related to IFRS and GAAP.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: 'Noto Sans Symbols',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Reports and technical updates from major accounting firms such as Deloitte<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">KPMG<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Ernst &amp; Young (EY)<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">and PricewaterhouseCoopers (PwC)<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Financial statements and disclosures of multinational corporations that report under both IFRS and GAAP (e.g., Apple Inc., Microsoft, and Nestl\u00e9).<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: 'Noto Sans Symbols',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Government and regulatory documents, including those from the U.S. Securities and Exchange Commission (SEC)<\/span> <span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">and the<\/span> <span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS Foundation<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">This combination of academic and practical sources ensures a balanced analysis that reflects both theoretical and real-world accounting perspectives.<\/span><\/p><\/li><\/ul><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Data Collection Technique<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The data were collected through documentary analysis<\/span> <span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">and content review of official accounting standards and company reports. Comparative charts and summaries were prepared to highlight differences in accounting treatments for selected financial elements such as:<\/span><\/p><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Revenue recognition<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Inventory valuation<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Lease accounting<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Intangible assets and development costs<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Financial instruments<\/span><\/p><\/li><\/ul><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The collection also included reviewing convergence project updates from IASB-FASB joint publications.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Data Analysis Technique<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The study employed comparative content analysis<\/span> <span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">to identify patterns, similarities, and deviations between IFRS and GAAP. The analysis involved three stages:<\/span><\/p><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: 'Noto Sans Symbols',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Identification of Conceptual Differences<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> \u2013 studying the principle-based versus rule-based philosophy.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: 'Noto Sans Symbols',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Technical Comparison<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> \u2013 comparing the recognition, measurement, and disclosure rules of both standards.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: 'Noto Sans Symbols',sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Practical Implication Analysis<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> \u2013 assessing the impact on financial statements using Apple Inc. as a case example.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Descriptive analysis was used to interpret findings logically and present them in a structured manner without bias.<\/span><\/p><\/li><\/ul><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Reliability and Validity of Data<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">To ensure reliability, only peer-reviewed academic publications, official accounting board documents, and authenticated<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> corporate <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">financial statements were used. Data triangulation was applied\u2014information from at least two independent sources was cross-verified to minimize errors or biases.<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"><br \/><\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">In addition, recent updates (up to 2024) were included to reflect current accounting practices, ensuring the research remains relevant and credible.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Scope and Limitations<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The scope of this research is limited to the comparison of IFRS and U.S. GAAP frameworks. The study does not include country-specific adaptations of IFRS (such as IFRS in India\u2014Ind AS). Another limitation is the qualitative nature of the research, which may not quantify the financial impact of adopting one standard over another. However, this approach provides a comprehensive understanding of conceptual and procedural variations that are critical to the academic and professional accounting community.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Ethical Considerations<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">All data sources used in this study are publicly available, properly cited, and acknowledged in the references section. The research follows ethical academic practices by avoiding plagiarism, ensuring transparency, and maintaining objectivity in interpretation.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Analytical Framework:<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">A comparative content analysis is used to evaluate differences in recognition, measurement, and disclosure under IFRS and GAAP.<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"><br \/><\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The case study approach supplements this analysis to demonstrate practical implications in a real-world corporate setting.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Case Study: Apple Inc.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Apple Inc., a U.S.-based multinational corporation, reports its financial statements under U.S. GAAP but also reconciles its results with IFRS for global investors. The transition analysis between the two standards highlights key areas of divergence:<\/span><\/p><div dir=\"ltr\" style=\"margin-left: 0pt;\" align=\"left\"><table style=\"border: none; border-collapse: collapse;\"><colgroup> <col width=\"108\" \/> <col width=\"169\" \/> <col width=\"178\" \/> <col width=\"168\" \/><\/colgroup><tbody><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Accounting Area<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS Treatment<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">GAAP Treatment<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Impact<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Inventory Valuation<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS prohibits LIFO; only FIFO and weighted average allowed.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">GAAP allows LIFO, FIFO, and weighted average.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Under GAAP, Apple may report lower profits during inflation if LIFO is used.<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Revenue Recognition<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Based on transfer of control (IFRS 15).<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Based on transfer of risks and rewards (ASC 606).<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS provides broader flexibility; GAAP specifies detailed rules.<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Development Costs<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Capitalized when specific criteria are met.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Usually expensed as incurred.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS results in higher asset base and future amortization.<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Lease Accounting<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Both lessees and lessors follow IFRS 16 principles, bringing most leases onto the balance sheet.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">ASC 842 applies but maintains classification differences between operating and finance leases.<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 0pt 5.4pt 0pt 5.4pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 0.5pt;\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 10pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS offers a more transparent representation of liabilities.<\/span><\/p><\/td><\/tr><\/tbody><\/table><p><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Findings from the Case Study:<\/span><\/p><\/div><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS-based reports offer greater transparency and international comparability.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">GAAP ensures consistency and legal precision within the U.S. context.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Transitioning from GAAP to IFRS can lead to short-term volatility in earnings and balance sheet values.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Apple\u2019s example reflects broader corporate experiences: while IFRS simplifies global reporting, GAAP offers precision suitable for domestic regulatory requirements.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Discussion<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The comparative analysis underscores that IFRS\u2019s principle-based approach enhances comparability across nations<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">whereas<\/span> <span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">GAAP\u2019s detailed framework ensures consistency within jurisdictions. However, the coexistence of both systems leads to complications for multinational corporations, investors, and auditors. The ongoing convergence project between IASB and FASB aims to reduce these inconsistencies through the adoption of similar standards in areas like revenue recognition and leases. Yet, complete convergence remains a challenge due to differences in legal systems, taxation policies, and regulatory environments.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7e751bb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7e751bb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6d266f3\" data-id=\"6d266f3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-96371f0 elementor-widget elementor-widget-heading\" data-id=\"96371f0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Conclusion<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0f465be elementor-widget elementor-widget-text-editor\" data-id=\"0f465be\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">This study concludes that both IFRS and GAAP serve the fundamental objective of ensuring transparent, reliable, and decision-useful financial information. While IFRS promotes global harmonization through flexibility and professional judgment, GAAP maintains its relevance through detailed guidance and legal rigor. The move toward convergence represents a significant step toward enhancing global comparability, but challenges remain in full adoption. Companies operating internationally must, therefore, adopt dual reporting frameworks or adapt flexible accounting systems to meet diverse regulatory demands.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-52c8eab elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"52c8eab\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0713ceb\" data-id=\"0713ceb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-61bcae8 elementor-widget elementor-widget-heading\" data-id=\"61bcae8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Statements &amp; Declarations<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ed2c6e elementor-widget elementor-widget-text-editor\" data-id=\"5ed2c6e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Peer-Review Method:<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">This article underwent double-blind peer review by two external reviewers.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Competing Interests:<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The author\/s declare no competing interests.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Funding:<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">This research received no external funding.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Data Availability:<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Data are available from the corresponding author on reasonable request.<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Licence:<\/span><span style=\"background-color: transparent; font-size: 12pt; font-family: Arial, sans-serif; color: #000000; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space-collapse: preserve;\">Comparative Study of IFRS and GAAP in Financial Reporting <\/span><span style=\"background-color: transparent; font-size: 12pt; font-family: Arial, sans-serif; color: #000000; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space-collapse: preserve;\">\u00a9 2025 by Simran is licensed under\u00a0 <\/span><span style=\"background-color: transparent; font-size: 12pt; font-family: Arial, sans-serif; color: #000000; font-weight: bold; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space-collapse: preserve;\">CC BY-NC-ND 4.0<\/span><span style=\"background-color: transparent; font-size: 12pt; font-family: Arial, sans-serif; color: #000000; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space-collapse: preserve;\">. Published by <\/span><span style=\"background-color: transparent; font-size: 12pt; font-family: Arial, sans-serif; color: #000000; font-weight: bold; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space-collapse: preserve;\">ICERT<\/span><span style=\"background-color: transparent; font-size: 12pt; font-family: Arial, sans-serif; color: #000000; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space-collapse: preserve;\">.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-709b40e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"709b40e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-698ef22\" data-id=\"698ef22\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ac8de16 elementor-widget elementor-widget-heading\" data-id=\"ac8de16\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">References<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-160e45a elementor-widget elementor-widget-text-editor\" data-id=\"160e45a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ol style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Barth, M. E. (2018). Global comparability in financial reporting: What, why, how, and when. <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Accounting and Business Research<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">48<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">(5), 527\u2013548.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Deloitte. (2023). <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS and US GAAP: A pocket comparison<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">. Deloitte Publications.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Financial Accounting Standards Board (FASB). (2023). <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Accounting standards codification (ASC)<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">. FASB.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Olasedidun, O. K., Bola, O. O., &amp; Falade, A. A. (2023). South-western Nigerian university students\u2019 gender use of mobile technologies for learning. <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Shodh Sari-An International Multidisciplinary Journal<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">02<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">(04), 4\u201314. https:\/\/doi.org\/10.59231\/sari7620<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Kumar, S., &amp; Simran, S. (2024). Psychosocial impact of COVID-19 pandemic on women\u2019s mental health. <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Shodh Sari-An International Multidisciplinary Journal<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">03<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">(04), 366\u2013375. https:\/\/doi.org\/10.59231\/sari7769<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">International Accounting Standards Board (IASB). (2023). <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">IFRS standards<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">. IFRS Foundation.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Nobes, C., &amp; Parker, R. (2020). <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Comparative international accounting<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">. Pearson Education.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Ganapathy, V. (2024). Decentralized identity verification in metaverse auditing using blockchain technology. <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Shodh Sari-An International Multidisciplinary Journal<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">, <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">03<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">(03), 66\u201388. https:\/\/doi.org\/10.59231\/sari7719<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">PwC. (2024). <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Similarities and differences: A comparison of IFRS and US GAAP<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 11pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt; padding-left: 3.25pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.7999999999999998; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">SEC (U.S. Securities and Exchange Commission). (2022). <\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Work plan for the consideration of incorporating IFRS into the financial reporting system for U.S. issuers<\/span><span style=\"font-size: 12pt; font-family: Arial,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">.<\/span><\/p><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3424ad2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3424ad2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-974d5c2\" data-id=\"974d5c2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0481a74 elementor-align-right elementor-mobile-align-center elementor-widget elementor-widget-button\" data-id=\"0481a74\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/icert.org.in\/index.php\/shodh-sari-2\/shodh-sari-vol-4-issue-4\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Back <\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Shodh Sari-An International Multidisciplinary Journal Vol-04, Issue-04 (Oct-Dec 2025) An International scholarly\/ academic journal, peer-reviewed\/ refereed journal, ISSN : 2959-1376 Comparative Study of IFRS and GAAP in Financial Reporting Simran Professor, Department of Commerce, NIILM University, Kaithal Abstract About Author Impact Statement Cite this Article Abstract Financial reporting is a cornerstone of transparency, accountability, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_acf_changed":false,"postBodyCss":"","postBodyMargin":[],"postBodyPadding":[],"postBodyBackground":{"backgroundType":"classic","gradient":""},"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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