Handbook: CARES Act: IFRS compared to US GAAP
Handbooks | June 2020
This new KPMG guide compares the financial reporting implications of the CARES Act under IFRS to US GAAP.

This guide explains in depth the financial reporting implications of the CARES Act under US GAAP, followed by a high-level comparison to IFRS; this comparison is intended to provide directional guidance related to the application of IFRS.
Applicability
- All companies that report under IFRS
Relevant dates
- CARES Act was signed into law on March 27, 2020
- Effective immediately
Report contents
- Government grants
- Income taxes
- Payroll taxes
- Paycheck protection program
- Debt and equity instruments issued
- Mortgage relief: Forbearances
- Leave eviction moratorium
- Subsequent events and going concern
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The US CARES Act - IFRS compared to US GAAP
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