As a follow up to my recent post on U.S. GAAP vs. International accounting standards, I discovered a helpful article by the folks at Fulcrum Inquiry. They've done a great job of highlighting the key differences between the two standards:
The following chart summarizes some of the more important remaining differences between the two standards. The list of major differences between IFRS and U.S. GAAP would have been much longer two years ago, thus reflecting rapid change (at least rapid for the typically snail-paced accounting regulators). However, the following is not a thorough examination of this topic, as many additional differences remain.
Read the whole article:
SEC Allows Foreign Reporting Standards in the U.S.
Fulcrum Inquiry
November 2007
During her time at Glenbrook, Erin focused on client engagements in business payments, cross-border transactions, bill payment, and the intersection of corporate finance, banking, and ERP/accounting. She has nearly twenty years of experience leading increasingly complex payment initiatives for corporate clients and advising financial institutions and payment technologists on the development of their payment capabilities.
Erin is also the founder of Forte Financial, a consulting firm focused on corporate finance efficiency, technology, and process improvement. She is a past president of the Financial Women’s Association of San Francisco and also a two-term past president of the San Francisco Treasury Management Association. Erin is no longer with Glenbrook, but contributed greatly during her time at the firm.