IFRS Perspectives - Q4 2018

New definition of a business: IFRS compared to US GAAP

The new IFRS definition of a business could change when a transaction is an acquisition of assets or a business combination.

Acquired by an IFRS company – more than a GAAP conversion

Financial reporting implications for a US GAAP preparer acquired by an IFRS company.

Income statement presentation: IFRS compared to US GAAP

The IFRS income statement follows certain formatting requirements and options different from US GAAP.