Update on IFRS® Accounting Standards in the US
Current/noncurrent classification of liabilities: IAS 1 amendments
New guidance effective in 2024 may affect balance sheet presentation under IFRS® Accounting Standards.
Current/non-current debt classification: IFRS® Accounting Standards vs US GAAP
Top differences between IAS 1 amended and ASC Topic 470 when classifying debt as current or non-current.
Own use scope exemption under IFRS® Accounting Standards
Objective, scope, and practical implications for power purchase agreements (PPAs)
Revenue accounting: IFRS® Standards vs US GAAP
Top 10 differences between IFRS 15 and ASC Topic 606 for revenue recognition.
IFRS vs. US GAAP: R&D costs
The accounting for research and development costs under IFRS can be significantly more complex than under US GAAP.
Income statement presentation: IFRS compared to US GAAP
The IFRS income statement follows certain formatting requirements and options different from US GAAP.
Income taxes: IFRS® Accounting Standards versus US GAAP
Top 10 differences between IAS 12 and ASC Topic 740.
Equity-method investees: IFRS impairment compared to US GAAP
Impairment testing of investments in joint ventures and associates can be challenging under IFRS.
Lease accounting: IFRS® Standards vs US GAAP
Top 10 differences between ASC Topic 842 and IFRS 16 for lessees.
Restructuring: Understanding the IFRS requirements
IFRS has specific requirements for restructuring activities that differ from US GAAP.
Accounting for legal claims: IFRS compared to US GAAP
IFRS and US GAAP have many subtle differences when accounting for provisions (loss contingencies) for legal claims.
Customer accounting for software-as-a-service arrangements
Accounting for the costs of cloud computing arrangements to provide software-as-a-service under IFRS® Standards
Converting from US GAAP to IFRS
To properly plan an effective transition, we offer ten factors for success plus five key things to consider.
IFRS Perspectives - Q4 2023
Revenue accounting: Consideration payable to a customer, The impact of climate risk on the financial statements, 2023 IFRS® Interpretations Committee Agenda Decisions, Q4 2023 new IFRS® Accounting Standards and amendments: Are you ready?
IFRS Perspectives - Q3 2023
ISSB Standards: General and Climate, Discontinued operations and assets held for sale (IFRS vs US GAAP), Sale and lease back (IFRS vs US GAAP).
IFRS Perspectives - Q2 2023
Accounting for deferred revenue in a business combination, global minimum tax, income taxes: (IFRS – US GAAP top differences)
IFRS Perspectives - Q1 2023
IRA and CHIPS, carbon offsets and credits, subsequent accounting for goodwill, and scope of IFRS 17.
IFRS Perspectives – Q4 2022
Goodwill impairment, statement of cash flows (IFRS – US GAAP top differences), 2022 IFRS Interpretations Committee Agenda Decisions
IFRS Perspectives – Q3 2022
Cryptocurrencies, hedge accounting (IFRS – US GAAP top differences), and current/noncurrent debt classification (IFRS – US GAAP top differences)
Insights into IFRS® – Our latest thinking
Our practical guide to IFRS Accounting Standards
New IFRS® Accounting Standards: Are you ready?
Use this tool to generate your customised list of newly effective and forthcoming IFRS Accounting Standards.
IFRS Institute
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