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5 Articles
ASC 326 CECL: Credit Loss Accounting for Receivables
Analyze ASC 326 (CECL) impacts on trade receivables and contract assets. Learn how to estimate lifetime credit losses under current US GAAP standards.
ASC 330 Inventory Valuation: Write-Downs & Reversals
Explore ASC 330 inventory valuation and write-down mechanics. Understand the lower of cost or NRV rule and why US GAAP strictly prohibits impairment reversals.
ASC 606 Revenue Recognition: The 5-Step Model Explained
Explore the ASC 606 revenue recognition standard. Learn the five-step model, identify performance obligations, and view practical journal entry examples.
Consolidation Elimination Entries: Rules and Examples
Learn consolidation elimination entries under IFRS 10 and GAAP. Guide covers intercompany transactions, equity adjustments, and journal entry examples.
Global Accounting Standards: A Guide to IFRS vs. GAAP
Learn the key differences between global accounting standards like IFRS and U.S. GAAP. This guide compares financial reporting frameworks by country.