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IFRS® Perspectives

Update on IFRS® Accounting Standards in the US

 

 

IFRS Perspectives - Q2 2024

Top 10 IFRS Perspectives articles
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Revenue accounting: IFRS® Standards vs US GAAP

Top 10 differences between IFRS 15 and ASC Topic 606 for revenue recognition.

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IFRS vs. US GAAP: R&D costs

The accounting for research and development costs under IFRS can be significantly more complex than under US GAAP.

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Income statement presentation: IFRS compared to US GAAP

The IFRS income statement follows certain formatting requirements and options different from US GAAP.

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Income taxes: IFRS® Accounting Standards versus US GAAP

Top 10 differences between IAS 12 and ASC Topic 740.

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Equity-method investees: IFRS impairment compared to US GAAP

Impairment testing of investments in joint ventures and associates can be challenging under IFRS.

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Lease accounting: IFRS® Standards vs US GAAP

Top 10 differences between ASC Topic 842 and IFRS 16 for lessees.

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Restructuring: Understanding the IFRS requirements

IFRS has specific requirements for restructuring activities that differ from US GAAP.

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Accounting for legal claims: IFRS compared to US GAAP

IFRS and US GAAP have many subtle differences when accounting for provisions (loss contingencies) for legal claims.

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Customer accounting for software-as-a-service arrangements

Accounting for the costs of cloud computing arrangements to provide software-as-a-service under IFRS® Standards

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Converting from US GAAP to IFRS

To properly plan an effective transition, we offer ten factors for success plus five key things to consider.

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    Archived IFRS Perspectives
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    IFRS Perspectives - Q1 2024

    Current/noncurrent classification of liabilities: IAS 1 amendments, Own use scope exemption under IFRS® Accounting Standards, Current/noncurrent debt classification: IFRS® Accounting Standards vs US GAAP

    IFRS Perspectives - Q1 2024
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    IFRS Perspectives - Q4 2023

    Revenue accounting: Consideration payable to a customer, The impact of climate risk on the financial statements, 2023 IFRS® Interpretations Committee Agenda Decisions, Q4 2023 new IFRS® Accounting Standards and amendments: Are you ready?

    IFRS Perspectives - Q4 2023
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    IFRS Perspectives - Q3 2023

    ISSB Standards: General and Climate, Discontinued operations and assets held for sale (IFRS vs US GAAP), Sale and lease back (IFRS vs US GAAP).

    IFRS Perspectives - Q3 2023
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    IFRS Perspectives - Q2 2023

    Accounting for deferred revenue in a business combination, global minimum tax, income taxes: (IFRS – US GAAP top differences)

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    IFRS Perspectives - Q1 2023

    IRA and CHIPS, carbon offsets and credits, subsequent accounting for goodwill, and scope of IFRS 17.

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    IFRS Perspectives – Q4 2022

    Goodwill impairment, statement of cash flows (IFRS – US GAAP top differences), 2022 IFRS Interpretations Committee Agenda Decisions

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    IFRS Perspectives – Q3 2022

    Cryptocurrencies, hedge accounting (IFRS – US GAAP top differences), and current/noncurrent debt classification (IFRS – US GAAP top differences)

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      Insights into IFRS® – Our latest thinking

      Our practical guide to IFRS Accounting Standards

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      New IFRS® Accounting Standards: Are you ready?

      Use this tool to generate your customised list of newly effective and forthcoming IFRS Accounting Standards.

      IFRS Institute
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      IFRS Institute

      Delivering KPMG guidance, publications and insights on the application of IFRS® Accounting Standards in the United States.

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      Subscribe to receive timely updates on the application of IFRS® Accounting and Sustainability Standards in the United States: our latest thought leadership, articles, webcasts and CPE seminars.

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