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Major Differences between US GAAP and IPSAS
Posted: 11 Jun 2020, 09:47
by Biniyam Fiseha
Warm Greetings!
IPSAS is the least discussed standard compared to IFRS. Furthermore, almost zero discussion is available online on major differences between GAAP and IPSAS in brief.
Please share if you have a brief summary of such discussion.
Best Regards,
Biniyam
Re: Major Differences between US GAAP and IPSAS
Posted: 12 Jun 2020, 01:42
by Marek Muc
well, you know, probably there are not enough lucrative contracts in public sector accounting
sorry, I'm not aware of anything that would be of use to you, but maybe someone will chime in with some insight...
Re: Major Differences between US GAAP and IPSAS
Posted: 12 Jun 2020, 08:19
by Biniyam Fiseha
Thank You Dear Marek Muc!
Yes, hoping some one will.
Best
Re: Major Differences between US GAAP and IPSAS
Posted: 19 Sep 2020, 03:42
by Asnake E
Hi,
As you might know US GAAP is not an internationally recognized accounting standards as a result the professional accountants outside the US don’t bother to know these standards in detail. You might as result not get someone to tell you the detail differences. However, generally these standards are simpler compared with the standards applicable to the business. As a result you can read through standards yourself and compare them.
I Know that the accounting standards applicable to the not for profit is included in the FASB accounting standards (the US GAAP) under Topic 958. You can get this Topic online
https://asc.fasb.org/imageRoot/48/117315748.pdf
You can also access the following to download resources on IPSAS
1. Deloitte’s resource
https://www.iasplus.com/en/publications ... ocket-2018
2. IPSAS standards
https://www.ipsasb.org/publications/202 ... ouncements
Re: Major Differences between US GAAP and IPSAS
Posted: 14 Dec 2021, 18:32
by Marek Muc
Re: Major Differences between US GAAP and IPSAS
Posted: 15 Dec 2021, 05:21
by Asnake E
I thank you for the invaluable links.