IFRS and US GAAP:
similarities and differences
Looking for more on IFRS?
US IFRS resources
Our US IFRS site contains a wealth of information and tools on
where we currently stand and what companies should be doing in
the US. Resources include our “IFRS First” newsletter, extensive
publications, in-depth webcast series, Video Learning Center,
interactive IFRS adoption by country map, and more. Designed
primarily with first-time adopters of IFRS in mind.
Global IFRS resources
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including publications, learning tools, newsletters, illustrative
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The IFRS and US GAAP: similarties and differences publication represents the efforts and ideas of many individuals
within PwC. The 2014 publication’s project leaders include David Schmid, Sara DeSmith, and Gina Klein.
Other primary contributors that contributed to the content or served as technical reviewers of this publication include
Edward Abahoonie, John Althoff, Erin Bennett, Catherine Benjamin, Craig Cooke, Lawrence Dodyk, Peter Ferraro,
Christopher Irwin, Ashima Jain, Bradley Jansen, Amélie Jeudi de Grissac, Yoo-Bi Lee, Christopher May, David Morgan,
Kirsten Schofield, Jay Seliber, Chad Soares, and Lee Vanderpool.
Other contributors include Mercedes Bano, Mark Bellantoni, Yelena Belokovylenko, Derek Carmichael, Fernando
Chiquito, Richard Davis, Fiona Hackett, Cynthia Leung, Gabriela Martinez, Bob Owel, Anna Schweizer, Hugo Van Den
Ende, and Caroline Woodward.
This publication is designed to alert companies to the major differences between IFRS and US GAAP as they exist
today, and to the timing and scope of accounting changes that the standard setting agenda’s of the International
Accounting Standards Board (IASB) and the Financial...