IFRS, US GAAP, and US tax accounting methods
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IFRS, US GAAP, and US tax accounting methods
Comparing IFRS & US GAAP and assessing the potential implications on US tax accounting methods
This publication identifies circumstances where tax accounting method changes may be required or desired and where Schedule M computations may change during an IFRS conversion with respect to the following:
- Revenue recognition
- Contra receivables
- Inventory
- Property, plant, and equipment (PP&E)
- Intangible assets and goodwill
- Impairments
- Leasing
- Liabilities