CONVERGENCE BETWEEN IFRS AND USGAAP INTRODUCTION International Financial Reporting Standards (IFRS)
based International Financial Reporting Standards (IFRs and its United States counterpart, the Financial
the main differences between GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial
and Disadvantages of switching from U.S.GAAP to IFRS Nara Yoon Charles Center Summer 2009 2 Advantages
Table of Conten Serial No. Particulars Page No. 1. Overview of the industry 2. About
Table of Contents Serial No. Particulars Page No. 1. Overview of the industry 2.
intangible assets, revenue, tax, inventory under IFRS (Aus) and U.S.GAAP. Secondly, describe consequence
pwc.com/mx/ifrs IFRS, US GAAP and Mexican FRS: similarities and differences* The Summary A comparison