Convergence of U.S. GAAP and IFRS
In 2002, FASB and IASB agreed to work together toward the convergence of U.S. GAAP and IFRS. Since then, there has been a convergence of these two sets of accounting standards. Nevertheless, there remain some differences. This book presumes U.S. GAAP, but will highlight the differences where they are significant.
IFRS PerspectiveThroughout the book, accounting differences between U.S. GAAP and IFRS will be highlighted in the IFRS Perspective sidebar. |
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