Differences Between US GAAP & IFRS

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Ivy Feng
Accountant, China

Differences Between US GAAP & IFRS

If you are allowed to give only 5 major differences between US GAAP & IFRS, what would they be?

  Ytalo Huertas Campoverde
Accountant, Peru


This is very important for me. I am a Peruvian accountant and belong to a USA company so I have to report with the two principles.

Manager, Mexico

Main Differences Between IFRS and US GAAP

I also would like to know the principal differences between US GAAP & IFRS, because this year the financial sector of Mexico must adopt these rules.

  david, United States

Diff. in Gaap and Ifrs

Difference between the two are still universes apart, from revenue recognition to financial sheet representation. Explaining the differences would take forever. Maybe asking a few questions that you are unsure of would be the best avenue for you.

  Victor hugo Gonzalez Vazquez
Accountant, Mexico

FASB and IASB Differences

Since the last 10 years, the organizations (FASB and IASB) that are in charge of carrying out global accounting treatments have been working on merging accounting criteria to arrive at a perfectly global comparison in accounting terms. The road is still long, but we can now in financial statement disclosure and profit and loss provide the best experience.
FIXED ASSETS here in Mexico continue to be a key point in the conversion process to IFRS versus USA GAAP.


More on US GAAP:
👀Differences Between US GAAP & IFRS
US GAAP and the Financial Crisis
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Comprehension of US GAAP
Exchange Ratio Statement
🔥US-GAAP Costs versus Capitalization
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