|
|
 |
| |
Accounting for Fair Value
IFRS versus GAAP
Listed below are some of the major differences in Fair Value accounting treatment between International Financial Reporting Standards (IFRS) and U.S. GAAP. This material is excerpted from Wiley IFRS 2008: Interpretation and Application of International Financial Reporting Standards.
|
U.S. GAAP Treatment of Fair Value |
IFRS Treatment of Fair Value |
|
Comprehensive standard establishes a three level hierarchy of fair value methods, but does not dictate further application of fair value measures
|
No comprehensive guidance issued by IASB, but current project promises a standard very similar to US GAAP |
Contact IFRS international accounting expert Dr. Barry Epstein, CPA for more information. He can be reached at bepstein@rnco.com or 312-464-3520.
|
|
