IFRS Perspectives - February 2017

It's a two-GAAP world, but the US market is deeply invested in IFRS

More than 120 countries around the world have adopted IFRS, making IFRS a must-know for US companies that intend to attract foreign investors, are contemplating raising capital outside the United States, or that are engaged in cross-border M&A transactions.

IFRS adoption in Japan will affect US subsidiaries

Historically, Japanese Foreign Private Issuers (FPIs) have used US GAAP or JGAAP with a reconciliation to US GAAP. However, over the years IFRS has slowly but surely gained momentum in Japan.

Converting from US GAAP to IFRS

To properly plan an effective transition, we offer ten factors for success plus five key things to consider.

Revenue: Top 10 Differences Between IFRS 15 and ASC 606

The IASB and the FASB have made clarifications to their new revenue standards. Here are the key areas where they diverge.

Current/noncurrent debt classification (IAS 1 vs. ASC 470)

The current/noncurrent classification of debt is important to investors because it changes a company’s working capital and liquidity portrayal.