IFRS vs. US-GAAP: key differences in international accounting reporting

The International Financial Reporting Standards (IFRS) and the US Generally Accepted Accounting Principles (US-GAAP) are the most important accounting systems in the world. They are created by private standard setters and gain their legal force through regulatory or statutory institutions. They apply in particular to the accounting consolidation of capital market-oriented parent companies with a corresponding effect on all respective group companies. However, IFRS and US-GAAP also have a significant impact on other companies and on national legislation outside their actual scope of application, such as the Accounting Directive in the EU.

Knowledge of IFRS and US GAAP is essential for corporate groups deciding which stock exchange to list on. They are equally indispensable for analysts and investors worldwide when assessing which investment is currently the better choice.

In this expert white paper, reporting companies, analysts, and investors receive an initial overview of the similarities and differences between the two accounting systems, which provides them with initial guidance in preparing for numerous decisions.