FSA - Inventory write down and Asset Impairment

[@DhritiMalhotra2107]

Also, this is very well explained. Understood it in one go!

[@FinExTraining]

Thank you so much for watching the video and commenting. Happy Learning.

[@DhritiMalhotra2107]

One basic query : how are IFRS and US GAAP different from each other?
IFRS are applicable globally
US GAAP are applicable in us. Is that all? Also if IFRS are applicable globally, why there is even need of US GAAP?

[@FinExTraining]

IFRS is more "principles based" as it is applicable for MNCs having presence in multiple countries.
US GAAP is "Rules based" and applicable only for companies within US.

[@DhritiMalhotra2107]

@@FinExTraining ok ok understood. Thanks