Difference Entre Ifrs Us Gaap Swiss Gaap Fer

6026 Words Nov 16th, 2011 25 Pages
IFRS US GAAP Swiss GAAP FER
Summary of similarities and differences 2007/2008 Edition

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IFRS – US GAAP – Swiss GAAP FER
Summary of similarities and differences
2007/2008 Edition This PricewaterhouseCoopers publication is for those who wish to gain a broad understanding of the key similarities and differences between IFRS, US GAAP and Swiss GAAP FER. No summary publication can do justice to the many differences of detail that exist between IFRS, US GAAP and Swiss GAAP FER. Even if the guidance is similar, there can be differences in the detailed application, which could have a material impact on the financial statements. It needs to be stressed that this brochure deals with the main differences only. Many more pages would be needed to be
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Balance sheet

Does not prescribe a particular format. A liquidity presentation of assets and liabilities is used, instead of a current/ non-current presentation, only when a liquidity presentation provides more relevant and reliable information. Certain minimum items are presented on the face of the balance sheet. Does not prescribe a particular format. A current/noncurrent presentation of assets and liabilities is used unless a liquidity presentation provides more relevant and reliable information. Certain minimum items are presented on the face of the balance sheet.

A minimum structure is required. Several items have to be disclosed separately on the face of the balance sheet or within the notes.

Income statement

Present as either a single-step or multiple-step format. Expenditures are presented by function. SEC registrants should follow SEC regulations.

A minimum structure is required, either by nature or by function. Several items have to be disclosed separately on the face of the income statement or within the notes.

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SUBJECT Exceptional (significant) items

IFRS Does not use the term but requires separate disclosure of items that are of such size, incidence or nature that separate disclosure is necessary to explain the performance of the entity. Prohibited.

US GAAP Similar to IFRS, but individually significant items are presented on the face of the income statement and disclosed in the notes.

Swiss GAAP FER Does not use the term exceptional, but

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