IFRS | GAAP in practice
Since time is precious, this site is designed to be scanned quickly, with details available only on demand.
While criticized for being text heavy (link), this site prefers eschewing the superfluous imagery seen practically everywhere else.
For example, we could greet visitors with a face like this or this but, instead, we prefer to cut straight to the chase.
The chart of accounts section presents logical, easily expandable and fully customizable charts of account that, unlike most, are not stuck in the last century.
Googling "chart of accounts" brings up a myriad of results:
Practically all use the same primitive flat block design that was (marginally) acceptable when a desktop computer was a novelty.
Today, most are laughable, or would be, if not presented as serious possibilities.
The illustrative examples section focuses on illustrating IFRS | GAAP using, as the name implies, examples.
While showing is practically always more useful than telling, sometimes, extemporization is unavoidable.
However, while it contains hundreds of examples, each illustration page begins with a concise, readily scannable summary with the details available on demand.
As in this introduction, detail, commentary, supplemental information, etc. is presented in expandable blocks such as this.
Why?
While recognizing transactions such as the sale of goods for cash requires little commentary (even though the applicable guidance is hundreds of pages long), breaking down a sales contract with multiple deliverables occurring at various intervals, does. Similarly, buying a single CNC machine is as straightforward as straightforward gets. Acquiring a production line (or assets and liabilities comprising a business in a business combination) may become more involved. In the same vein, the accounting for an office space rental is as simple as sliced pie. If the agreement contains special features, complications may arise. And so on.
This implies, not everything needs to be spelled out, but some things do.
But we do try to keep this additional commentary to a minimum.