Handbook: IFRS® compared to US GAAP
KPMG’s side-by-side comparison of IFRS Standards and US GAAP. With unprecedented accounting change under both IFRS Standards and US GAAP within the past five years, our Handbook is designed to help preparers and users navigate the growing gap between the two sets of standards.
- Public companies
- Private companies that do not adopt the private company accounting alternatives
- Annual reporting periods beginning on January 1, 2019, including forthcoming requirements for subsequent periods
- Given the number and significance of foreign private issuers using IFRS Standards in the US capital markets as well as the number of US companies investing abroad, an understanding of the differences between IFRS Standards and US GAAP is important to preparers and users of financial statements.
- The differences that KPMG encounters most frequently, resulting from either a difference in principle, emphasis or specific application guidance.
- The conceptual framework
- Statement of financial position
- Specific items of profit or loss and OCI
- Broad transactions, such as consolidation, business combinations, fair value measurement, leases
- Financial instruments
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