New publication laying out differences in accounting standards IFRS and US GAAP
Are you transitioning from US GAAP to IFRS or vice versa? Do you need to consider possible differences between the two accounting standards and do not know where to start? Are you concerned that sources you used in past are no longer up to date after many new standards adopted in past couple of years? Then take a look inside our new publication, which deals with the differences between IFRS and US GAAP in detail.
Due to extensive convergence efforts of FASB and IASB, there are areas where differences are minor compared to the past, like revenue recognition, while in other areas, like financial instruments, leases, key differences increased.
Our expert team has prepared a comprehensive publication addressing key differences of the two sets of standards covering all new standards becoming effective for public business entities as of 31 December 2019.
The publication is 380 pages long and is organised by key topics. Within each topic, you will find a list of situations where a common IFRS vs US GAAP difference may arise, with details then explained and references to the relevant guidance.
The publication is available at iasplus.com.
Should you need further assistance in this area, do not hesitate to contact us.