U.S. GAAP versus IFRS.
ABSTRACTThere are notable differences between the International Accounting Standard Boards and the Financial Accounting Standard Boards models of accounting for income tax. Efforts to harmonize the two standards through the Exposure Draft were dropped in 2009 and have not been reviewed thereafter. In 2012, SEC staff provided a final IFRS framework that outlined its efforts and findings but did not provide any conclusions or recommendations for any actions. The difference between IFRS and US GAAP remain significantly felt in many areas and are of major interests to users of financial statements. The main areas of comparison ...
