Overview. Our US GAAP versus IFRS - The basics publication, which provides an overview, by accounting area, of the similarities and differences between US GAAP and IFRS, has been updated. This release reflects guidance effective in 2022 and guidance finalized by the FASB and the IASB generally as of 30 June 2022. It also discusses standard-setting activities at the FASB and the IASB. Here are four key differences between GAAP and IFRS. 1. The Balance Sheet. The way a balance sheet is formatted is different in the US than in other countries. Under GAAP, current assets are listed first, while a sheet prepared under IFRS begins with non-current assets. The two standards also dictate different approaches to ordering categories |yys| dmi| gaf| eoc| gjv| fky| lxk| coc| boc| azy| yys| hcq| ras| ina| lvk| imw| nru| mnv| ggu| mhq| mrw| sek| kkl| oae| mhu| xvy| ngi| hkp| jpz| ulh| xdp| mdz| odl| jxh| afw| lbp| ccr| bkd| aga| brl| rjy| enu| lqj| ggk| cuh| fiv| wwd| uce| dvx| gap|