While the near-term use of IFRS in the US by domestic public companies will not be required, IFRS remains very relevant to many US businesses. Companies are and will be affected by IFRS at varying times and degrees of magnitude, driven by factors such as size, industry, geography, M& A activity, and global expansion. Despite an unclear SEC adoption timeline, we believe the impact of accounting changes resulting from the FASB's and IASB's joint efforts will be significant and will have broad based implications.
Much more than a simple comparison, this revision provides insight as to the actual impact of key differences between IFRS and US GAAP.
PwC discusses several key issues related to the adoption of IFRS in the US.
How financial reporting differences can affect deal value
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