The Handbook to IFRS Transition and to IFRS U.S. GAAP Dual Reporting

PREFACE

The Handbook to IFRS Transition and to IFRS U.S. GAAP Dual Reporting explains the accounting for the first-time adoption of IFRSs and the structuring of IFRS financial statements, from the perspective of companies that want to reuse, or must continue to use their U.S. GAAP (Generally Accepted Accounting Principles in the United States of America) and SEC practices. The handbook capitalizes on the experience gained during the EU migration wave, goes into the implications for U.S. GAAP companies, as well as the Implementation Guidance that U.S. GAAP and the SEC have been developing over time for foreign entities reporting under IFRSs in the U.S.

This Book first addresses the requirements for adopting IFRSs for the first time. The treatment of these requirements is accompanied by corporate examples, illustrations, and enforcement decisions by regulators, as well as considerations arising from U.S. GAAP and SEC guidance that have been developing in the context of the use of IFRSs by foreign private issuers.

An explanation of how to structure the statement of financial position, the statements of income, the statement of cash flows, the statement of changes in equity, and interim reporting under IFRSs then follows. A detailed comparison is made of each item with U.S. GAAP and SEC rules and regulations, including examples, comments, and planning points. Ready-made dual reporting tools are provided to assist financial statement preparers in designing the structures of the financial ...