The important key differences between US GAAP and IFRS

 

The important key differences between GAAP and IFRS

While GAAP and IFRS share many similarities, there are a lot of differences. There are four major differences between US GAAP and IFRS and they should be discussed as,

1. A "balance sheet".

In the USA, the format of a "balance sheet" is different from other countries. Current assets will be listed first under GAAP whilst a sheet prepared under IFRS begins with non-current assets.

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The important key differences between US GAAP and IFRS

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