Enterprise glossary and term center
Research and understand all the intricate terms and definitions that surround the ecosystem of enterprise resource planning (ERP), enterprise software and no-code tools.
- Enterprise terms
- Generally Accepted Accounting Practices
- What is difference between IFRS and GAAP?
Generally Accepted Accounting Practices - What is difference between IFRS and GAAP?
The primary difference between the two systems is that GAAP is rules-based and IFRS is principles-based. This disconnect manifests itself in specific details and interpretations. Basically, IFRS guidelines provide much less overall detail than GAAP.