LinkTivate GAAP and IFRS by diygalaxy.com

LinkTivate will slowly transition to international financial reporting standards (IFRS) from the existing GAAP (generally accepted accounting principles). The shift is a small step in allowing users around the world to transact in a transparent and understandable business arena.

The current systems will maintain the existing accounting standards and reporting structures applicable to that country. Features may deprecate over time depending on the level of IFRS in the country. Accountants will then be able to maintain books of accounts which are similar, understandable, reliable and relevant as per their customers around the world.