Differences between us gaap and ifrs

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Reference no: EM1375546

What are the types of differences that exist between US GAAP and IFRS. In addition to just identifying the U.S. IFRS/ GAAP differences though, please show the status of convergence with respect to those differences.

The kinds of differences that exist between IFRS and U.S. GAAP can be classified as:

• Definition differences

• Measurement differences

• Recognition differences

• Differences in allowed alternatives

• Presentation differences

• Differences in (lack of) guidance

• Disclosure differences

Reference no: EM1375546

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