What are the types of differences that exist between IFRS and U.S. G.pdf
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The document outlines various types of differences between IFRS and U.S. GAAP, including definition, recognition, measurement, allowed alternatives, guidance, presentation, and disclosure differences. It emphasizes that comparability differences are generally not included in these classifications. Examples are suggested but not detailed in the document.
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What are the types of differences that exist between IFRS and U.S. G.pdf
- 1. What are the types of differences that exist between IFRS and U.S. GAAP? Give examples. Solution The types of differences that exist between IFRS and U.S. GAAP can be classified as: • Definition differences • Recognition differences • Measurement differences • Differences in allowed alternatives • Differences in (lack of) guidance • Presentation differences • Disclosure differences The types of differences that exist between IFRS and U.S. GAAP would NOT generally include Comparability differences.