Accounting for Personal Financial Statements
IFRS versus GAAP
Listed below are some of the major differences between International Financial Reporting Standards (IFRS) and U.S. GAAP in accounting for personal financial statements. This material is excerpted from Wiley IFRS 2008: Interpretation and Application of International Financial Reporting Standards.
|
U.S. GAAP: Personal Financial Statements |
IFRS: Personal Financial Statements |
|
Current value reporting required |
No published guidance
|
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 mailto:bepstein@rnco.com or 312-464-3520.
|
