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Dr. Epstein served as the lead author of 14 annual editions of Wiley IFRS (1997 through 2010), and 26 annual editions of Wiley GAAP (1985 through 2010), all published by John Wiley & Sons.
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Accounting for Interim Reporting
IFRS versus GAAP
Listed below are some of the major differences between International Financial Reporting Standards (IFRS) and U.S. GAAP in accounting for interim reporting. This material is excerpted from Wiley IFRS 2010: Interpretation and Application of International Financial Reporting Standards.
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U.S. GAAP: Accounting for Interim Reporting |
IFRS: Accounting for Interim Reporting |
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Some timing differences in recognition of interim revenues and expenses vs. IFRS |
Some timing differences in recognition of interim revenues and expenses vs. U.S. GAAP
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Basic principle is that interim period is integral to full year, but actual requirements depart from this in many instances; net result is mixed approach not unlike IFRS
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Basic principle is that interim period is discrete period, but actual requirements depart from this in many instances; net result is mixed approach not unlike U.S. GAAP |
Contact IFRS international accounting expert Dr. Barry Epstein, CPA for more information. Learn more about Dr. Epstein at www.ifrsaccountant.com. He can be reached at BEpstein@SSandG.com or 312-464-3520.
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