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Key Differences Between U.S. GAAP and IFRSs

The following chart can be used as a cross-reference between U.S. GAAP and IFRSs based on subject matter, including a link to a detailed comparison:

Subject Matter ASC Topic IFRS Comparison
Accounting Changes 250-10 IAS 8
Asset Retirement Obligations 410-20 IAS 16 / IAS 37 / IFRIC 1 Comparison
Business Combinations 805-10 IFRS 3 (Revised 2008)
Comprehensive Income 220-10 IAS 1 (Revised 2007) Comparison
Consolidated Financial Statements 810-10 IAS 27 / SIC-12
Contingencies 450-10 IAS 37 Comparison
Debt and Equity Capital Transactions 470-10 / 470-20 / 470-30 / 470-40 / 470-50 / 470-60 / 480-10 / 505-10 / 815-10/ 815-40 / 825-10 / 835-10/ 835-30 / 480-10-S99-3A IAS 32 / IFRIC 2 / IFRIC 19 / IAS 39 / IFRS 9 Comparison
Derivatives — Definition and Scope 815-10-15 IAS 39
Discontinued Operations 205-20 IFRS 5 Comparison
Earnings per Share 260-10 IAS 33 Comparison
Embedded Derivatives 815-15 IAS 39 Comparison
Employee Stock Ownership Plans 718-40 IFRS 2
Equity Method of Accounting 323-10 IAS 28
Fair Value Measurements of Financial Instruments 820-10 IFRS 13 Comparison
Fair Value Option 825-10 IAS 39 / IFRS 9 Comparison (before adoption IFRS 9)

Comparison (after adoption IFRS 9 and ASU 2016-01)
Goodwill and Other Intangible Assets 350-10 IAS 36 / IAS 38 Comparison
Hedge Accounting 815-20 IAS 39 / IFRS 9
Impairment of Long-Lived Assets to Be Held and Used or to Be Disposed of by Sale 360-10 IAS 36 / IFRS 5 Comparison
Income Taxes 740-10 IAS 12 Comparison
Interim Reporting 270 IAS 34
Inventories 330-10 IAS 2 Comparison
Investments in Debt and Equity Securities (Before Adoption of IFRS 9) 320-10 IAS 39 Comparison
Investments in Debt Securities (After Adoption of IFRS 9 and ASU 2016-01) 320-10 IFRS 9 / IAS 39 Comparison
Investments in Equity Securities (After Adoption of IFRS 9 and ASU 2016-01) 321-10 IFRS 9 Comparison
Joint Ventures 323-10 IAS 31
Leases 840-10 IAS 17 / IFRIC 4 Comparison
Loan Receivables (After Adoption of IFRS 9 and ASU 2016-01) 310-10 IFRS 9 / IAS 39 Comparison
Loan Receivables (Before Adoption of IFRS 9) 310-10 IAS 39 Comparison
Offsetting of Financial Assets and Financial Liabilities in the Balance Sheet 210-20 IAS 32 Comparison
Pensions, Other Postretirement Benefits, and Other Postemployment Benefits 715-10 / 715-30 / 715-60 / 712 IAS 19 / IFRIC 14
Revenue Recognition 605-10 IAS 18
Sales of Real Estate 360-20 IAS 18 / IAS 11 / IFRIC 15 Comparison
Segment Reporting 280-10 IFRS 8
Share-Based Payment 718-10 IFRS 2
Statement of Cash Flows 230-10 IAS 7 Comparison
Transfers and Servicing of Financial Assets 860-10 IAS 39
Uncertainty in Income Taxes 740-10 IAS 37 Comparison

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.