IFRS and US GAAP

A practical comparison of-and expert guidance on-IFRS and GAAP written by a practicing controller International Financial Reporting Standards (IFRS) are used in over 120 countries. US companies will inevitably encounter IFRS when evaluating the financial health of suppliers and customers. IFRS and US GAAP: A Comprehensive Comparison provides instruction in accounting under IFRS within the context of US accounting standards. Practical and easy-to-use, this book includes a case study of a first time IFRS adoption, emphasizing the much greater degree of professional judgment that is needed for IFRS.

• Provides a heavy emphasis on practical examples
• Includes an online companion website with downloadable spreadsheets and templates
• Reflects current financial reporting trends

• Addresses accounting requirements of which today's auditors, accountants and preparers of financial reports need to be aware
  Clarifying IFRS, its impact on US companies, and where to start in understanding it, IFRS and US GAAP prepares US accountants to be knowledgeable with day to day financial accounting issues using IFRS's substantial similarity with US GAAP as a context.

Auteur

STEVEN E. SHAMROCK, CPA, MBA, CMA, is Corporate Controller of AkzoNobel Inc., the US parent company of AkzoNobel NV, a global Fortune 500 company and major producer of specialty chemicals. He was formerly with BP America Inc., where he managed the preparation of consolidated external financial statements that were converted from IFRS to US GAAP. He has specialized in IFRS in the facets of conversion, application, and policy and serves on the IFRS AICPA SAG. He is also a frequent speaker on IFRS at AICPA conferences.

Texte du rabat
A practical comparison of--and expert guidance
on--IFRS and GAAP written by a practicing controller

International Financial Reporting Standards (IFRS) are used in
over 120 countries. US companies will inevitably encounter IFRS
when evaluating the financial health of suppliers and customers.
IFRS and US GAAP: A Comprehensive Comparison provides
instruction in accounting under IFRS within the context of US
accounting standards. Practical and easy-to-use, this book includes
a case study of a first time IFRS adoption, emphasizing the much
greater degree of professional judgment that is needed for
IFRS.

• Provides a heavy emphasis on practical examples

• Includes an online companion website with downloadable
  spreadsheets and templates

• Reflects current financial reporting trends

• Addresses accounting requirements of which today's auditors,
  accountants and preparers of financial reports need to be
  aware

Clarifying IFRS, its impact on US companies, and where to start
in understanding it, IFRS and US GAAP prepares US
accountants to be knowledgeable with day to day financial
accounting issues using IFRS's substantial similarity with US GAAP
as a context.

Résumé
A practical comparison ofand expert guidance onIFRS and GAAP written by a practicing controller International Financial Reporting Standards (IFRS) are used in over 120 countries. US companies will inevitably encounter IFRS when evaluating the financial health of suppliers and customers. IFRS and US GAAP: A Comprehensive Comparison provides instruction in accounting under IFRS within the context of US accounting standards. Practical and easy-to-use, this book includes a case study of a first time IFRS adoption, emphasizing the much greater degree of professional judgment that is needed for IFRS.

• Provides a heavy emphasis on practical examples
• Includes an online companion website with downloadable spreadsheets and templates
• Reflects current financial reporting trends
• Addresses accounting requirements of which today's auditors, accountants and preparers of financial reports need to be aware
  Clarifying IFRS, its impact on US companies, and where to start in understanding it, IFRS and US GAAP prepares US accountants to be knowledgeable with day to day financial accounting issues using IFRS's substantial similarity with US GAAP as a context.

Contenu

About the Author vii

Introduction ix

1 Standard Setting 1

2 The Framework 5

3 Property, Plant, and Equipment 13

4 Inventory 19

5 Provisions and Contingencies 25

6 Intangible Assets 35

7 Share-Based Compensation 39

8 Financial Instruments 45

9 Leases 59

10 Revenue 69

11 Income Taxes 111

12 Investments in Subsidiaries 129

13 Postretirement Benefits 171

14 Impairments 189

Index 203