Approximately 120 countries currently permit or require IFRS for domestic-listed companies; 90 have fully conformed with IFRS. As momentum for a global standard gathers speed, it's more important than ever for retail and consumer goods companies to be familiar with the sometimes significant differences between IFRS and US GAAP.
This report discusses 46 accounting topics common to retail and consumer companies. Issues covered range from those related to R&D all the way through to sales to the end customer. Each discussion provides background, accounting guidance, a solution and a comparison between US GAAP and IFRS.
Some of the issues covered include:
Impairment of stores to be closed
Customer loyalty programmes
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