International Accounting - Must-Know Differences Between IFRS and US GAAP
Today IFRS and US GAAP are the two most widely used accounting frameworks worldwide. Despite ongoing work towards convergence of these two major accounting frameworks, some material differences remain. Accounting practitioners around the globe are daily challenged dealing with converting financial statements from US GAAP to IFRS and vice versa.
In the following article, Alexandra Supper, Knowledge Consultant at LucaNet AG, will provide you with a brief overview of the must-know similarities and differences between the US GAAP and IFRS standards. Finance professionals will find some hints and tips on how the LucaNet software can assist them in preparing multi-GAAP financial statements.
- Must-know similarities between US GAAP and IFRS
- Key differences between US GAAP and IFRS
- Hints and tips on preparing multi-GAAP financial statements