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 |