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GAAP vs. IFRS. GAAP (US Generally Accepted Accounting Principles) is the accounting standard used in the US, while IFRS (International Financial Reporting Standards) is the accounting standard used in over 110 countries around the world.
For Poverty Status - Alternative, the income definition is applied to the family income. For Household Income - Alternative, the income definition is applied to the household income. The income format for Household Income - Alternative is the format selected in section 6, Customized Formatting. You may select the official income (Money Income), any of five alternatives, or you may customize your own definition from the 42 possible components of income.