GAAP and IFRS

James Guest	#1 29/09/2011 06:08 How can I find out the differences between local GAAP in my own country and IFRS GAAP?

Guest Guest	#2 02/10/2011 18:31 What are the key differences When comparing IFRS and GAAP?

Muhammad Zargham Haider

User

Posts: 32 Joined: 27/09/2011

03/10/2011 05:55

the differences cannot be listed unless for a particular topic or area. however some key differences are as follows;
The biggest difference between U.S. GAAP and IFRS is that IFRS provides much less overall detail. Its guidance regarding revenue recognition, for example, is significantly less extensive than U.S. GAAP. IFRS also contains relatively little industry-specific instructions.
you may noticed that this is only a general difference.

Tucan Petrovich User Posts: 9 Joined: 28/06/2011	#4 03/10/2011 12:24 Unfortunately, US put off again the final decision about conversion to IFRS

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