Top Five Accounting Books for GAAP and IFRS (2023)

Top Five Accounting Books: IFRS and US GAAP

Today Financial Statements are prepared based on two world largest accounting standards: IFRS and US GAAP. Some countries require the companies that operate in their jurisdiction to use their local GAAP as the framework to prepare the Financial Statements.

Yet, most of the countries have adopted IFRS and stop using the local GAAP. US GAAP also steps by step to adopt IFRS.

The full name of IFRS is International Financial Reporting Standard and this standard is developed by IASB on the principle basis while US GAAP, Rule-Based, is published by  Financial Accounting Standards Board and adopted by U.S. Securities and Exchange Commission.

For example, if your entity’s Financial Statements are prepared based on IFRS, you should have a good understanding of the key principle of each standard in IFRS.

To ensure that the Financial Statements are complying with the standards, it is required us to have very good knowledge not only about the technique on how to prepare them.

But also require to have the technical knowledge in those accounting standards.

Otherwise, you have probably recognized the transaction and event incorrectly in the statements.

The following are the top five best-selling GAAP and IFRS guide books established by well know international publishers. They are not only easy to use and understand, but also have a clear explanation to help us deal with the difficult accounting treatment.

Here are they,

#5: Wiley IFRS 2023:

Wiley Interpretation and Application of IFRS Standards (Wiley Regulatory Reporting) is one of the best IFRS Guide books that you should have in 2019 if you want to get a better understanding of IFRS. Here is the importance of things about this great book:

  • Understand the framework that unifies the IFRS
  • Interpret and apply the standards correctly
  • Verify compliance and completeness
  • Get expert guidance on implementing the new and updated standard
  • IFRS for SMEs
  • and IFRS use in the USA

This book will guide you step by step along with the practical example that could help you gain a better understanding of the complicated standard easily.

Like many other professionals, when they read the standard, sometimes they don’t even know where to standard, and how to deal with accounting treatments.

This book, by the way, makes you don’t feel like that after you complete the topics. It is easy to understand, and the examples are practical.

#4: GAAP Guidebook 2019

US GAAP is one of the most complicated accounting standards and frameworks. Having knowledge about US GAAP might not help you to solve some problems in your daily practice.

This book will guide you step by step on how to deal with US GAAP standards and good new examples that you might never meet before.

GAAP Guidebook also stands in the number one bestseller accounting book related to the GAAP guidebook. As you know, GAAP has many different sources and thousand of documents, in this GAAP Guidebook, it provides you with all of those thousand documents in one package.

Easy to understand with good examples and explanations. This book is trying to help you to master and have excellent knowledge of US GAAP.

This version is not the first publication. It was first published a long time and this version develops based on the reader’s feedbacks incorporates new technologies that could help you feel hungry to learn.

#3: IFRS For Dummies 2019

If you looking for an IFRS book that is easy to read and understand with the complete set of standards, then IFRS For Dummies should be one of the best on your list. IFRS For Dummies 2019 is also good for those who wish to apply IFRS for the first time adoption for their financial reporting.

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IFRS For Dummies always stays at the top of my favorite book just like its reputation. This book will teach you how to apply each IFRS standard with very good examples and step-by-step explanations.

IFRS is changing from year to year, and it is your responsibility to make sure that you have up-to-date knowledge and know-how to apply them. This book is writing to help you with this.

Most of the readers are accountants, auditors as well as students dealing with accounting standards. They bought the book and back to rate it as five stars. This is because the book provides them detailed explanations, good examples, and practical recommendations.

#2: Wiley Not-for-Profit GAAP 2019

Wiley Not-for-Profit GAAP is the best GAAP that tailoring for Not-for-profit organizations which provides you with the best explanation on how to apply GAAP with a not-for-profit organization. Wiley Not-for-Profit GAAP provides friendly guidance with ease to use.

Accounting for Not for profit organizations might also be as difficult as accounting treatment for profits organizations.

And if you are working in the Not for profit organization and facing the difficulty of dealing with accounting treatment, then this book is recommended for you.

Also, if you are a student and now dealing with this kind of accounting treatment, you may want to check this book and see how it could help you.

There are many versions of the book and this one is last updated. The book included and respond to all feedback from customers and making sure that the customers get the best experiences. The last result, the book gets the best support from customers.

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#1: Wiley GAAP 2019

” I love the book published by Wiley. It helps me to understand difficult topics. This Wiley GAAP Book 2017 also plays the same role. It helps me a lot in dealing with complicated accounting treatment like IFRS 9″.

This is what the customer who purchase this book and back to rate for it. The book is published in 2016 but still stands as the best seller for 2017. Wiley GAAP  could be purchased on Amazon.