You’ve learnt that the financial statements prepared using IFRS and UK GAAP are different, and I’ve discussed the major differences as we’ve progressed through the book. However I’d like to summarise them in this chapter, and show you how the same information would be shown in IFRS financial statements and those prepared using UK GAAP. I’ll start by looking at the main differences and then you can see the financial statements.
There are a number of differences between IFRS and UK GAAP that affect financial analysis. They include: