Please note: The balance sheet presented in this video complies with International Financial Reporting Standards (IFRS), which companies outside the United States follow. US companies typically adhere ...

and GAAP. Although the balance sheet and the P&L statement contain some of the same financial information—including revenues, expenses, and profits—there are important differences between them.

GAAP does not allow for revaluing the value ... Where is Amortization Found on the Balance Sheet? Typically, amortization is classified as a contra-asset account on the balance sheet.