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Wiley IFRS 2010
Barry J.Epstein
Eva K. Jermakowicz

  
 

Wiley GAAP 2010
Barry J.Epstein
Ralph Nach
Steven M. Bragg

  
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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.

U.S. GAAP: Accounting for Interim Reporting

IFRS: Accounting for Interim Reporting

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

 

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

 

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@rnco.com or 312-464-3520.