IFRS versus GAAP
International Financial Reporting Standards (IFRS)
Generally Accepted Accounting Principles (U. S. GAAP)

The differences between International Financial Reporting Standards (IFRS) and current U.S. GAAP are numerous. For a detailed, tabular comparison between the two standards (excerpted from Wiley IFRS 2008: Interpretation and Application of International Financial Reporting Standards), please click on a link below to read more about the topic(s) of interest to you.

IFRS Financial Reporting

• General Considerations in International Financial Reporting Standards
• IFRS Balance Sheet
• IFRS Statements of Income, Comprehensive Income
• IFRS Statement of Cash Flows

IFRS Accounting Policies, Changes and Restatements

• Fair Value
• Cash, Receivables and Prepaid Expenses
• Short Term Investments and Financial Instruments
• Inventory
• Revenue Recognition: Evolving Principles & Specialized Applications
• Long Lived Assets (Tangible Assets)
• Long Lived Assets (Intangible Assets)
• Investments (Passive)
• Investments (Equity Method and other)
• Business Combinations and Consolidated Financial Statements
• Current Liabilities and Contingencies
• Long-Term Liabilities
• Leases
• Income Taxes
• Pensions and Other Postretirement Benefits
• Stockholders' Equity
• Earnings Per Share
• Interim Reporting
• Segment Reporting
• Foreign Currency
• Personal Financial Statements
• Specialized Industry GAAP

Current International Financial Reporting Standards & Interpretations

• IFRS IAS International Financial Reporting Standards
• International Financial Reporting Standards (IFRS)
• IFRS Standing Interpretations Committee (SIC) Standards
• International Financial Reporting Interpretations Committee (IFRIC)

Contact IFRS international accounting expert Dr. Barry Epstein, CPA for more information. Read more about him at www.ifrsaccountant.com. He can be reached at bepstein@rnco.com or 312-464-3520.