
GAAP vs. tax-basis reporting – How lenders can avoid apples-to-oranges comparisons
$225.00
Description
Abstract: Some borrowers may want to issue tax-basis financial statements, rather than statements that comply with GAAP. But the use of simplified special purpose frameworks could result in significant differences in financial results compared to GAAP. This article compares and contrasts the two most common financial reporting frameworks — GAAP and tax-basis reporting — to help lenders understand where the differences lie and make meaningful comparisons.
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