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welcome these new accounting policies, as it makes it easier for foreign investors to get financial data, which they can consider reliable, in order to invest in developing countries. Some countries face political resistance, China as an example, but it is also in they're best interest to adapt to the new standards, so they can even further fuel their economical growth.

3.1 规则与原则——3.1 Rules vs. principles

The fundamental difference between the U.S. GAAP and the IFRS is that, the IFRS has a principles-based approach, when the U.S GAAP has a rules-based approach. A more flexible set of principles can make it easier for more countries to adapt, but it also brings a lot of difficulties, when companies have more space to modify their data. The U.S GAAP is not just a guideline on how to report data, but specific rules on how to apply specific data. The IFRS is also more able to handle with the constant changes which happen in the business world, as it is more interpretable.

On the other hand, as the U.S. GAAP has a clear set of rules, it requires less explanation from the reporters to the auditors. In comparison, the auditors of the a report which has been prepared using IFRS, the auditor might be required to have special expertise in that area of industry, to which the report relates to.

3.2 无形资产的重估——3.2 Revaluation of intangible assets

A practical example of a difference between the U.S based GAAP, and IFRS, is the manner in which intangible assets can be reevaluated. According to IAS 38 the revaluation of intangible assets is permitted if the asset is traded in an active market. And active market need to fulfill three conditions, summarized by IASC Foundation staff, in a Summary of IAS 38:

' (a) the items traded in the market are homogeneous;

(b) willing buyers and sellers can normally be found at any time; and

(c) prices are available to the public '

Where as according to the U.S GAAP, revaluation of intangible assets is totally prohibited.

3.3 研究和开发费用——3.3 Research and development costs

When comparing internally generated intangible assets, the U.S GAAP and IFRS have some significant differences. IFRS separates the development phase and the research phase from each other. The research costs are expensed as they are incurred, and intangible assets that arise from research, are not recognized.

Development costs on the other had are capitalized, and intangible assets arising from development activities are recognized if they meet all of the conditions listed in IAS 38, which have been summarized by the IASC Foundation staff, in their Summary of the IAS 38 as follows:

'(a) the technical feasibility of completing the intangible asset so that it will be available for use or sale.

(b) its intention to complete the intangible asset and use or sell it.

(c) its ability to use or sell the intangible asset.

(d) how the intangible asset will generate probable future economic benefits. Among other things, the entity can demonstrate the existence of a market for the output of the intangible asset or the intangible asset itself or, if it is to be used internally, the usefulness 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。