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

KEY ELEMENTS AND DECISIONS

Paragraph 4.2.1

An entity that has components of other comprehensive income must decide whether to adopt a single statement of comprehensive income or an income statement plus a statement of comprehensive income.

Paragraph 4.2.3

A foreign private issuer must decide whether to present a statement of comprehensive income under IFRSs without reconciliation to U.S. GAAP in SEC filings or one prepared under U.S. GAAP. In the latter case, it must choose which U.S. GAAP format it will use.

Paragraph 4.3.5

An entity that is an SME must check if it is allowed to and wishes to present a combined statement of income and retained earnings.

Paragraph 4.5.2

Consider the SEC's prohibition against the exclusion of depreciation, amortization, or depletion from cost of sales.

Paragraph 4.5.3

An entity that decides to present a subtotal for profit or loss from operations in IFRSsstatements of income, should consider the following: IFRSs guidance against arbitrary exclusions of items that would ordinarily be held as operating; IFRSs guidance against exclusions of unusual or infrequent or noncash items; What the U.S. GAAP equivalent aggregate would be; Whether or not the subtotal would qualify as a measure expressly permitted by IFRSs in SEC filings; The implications of the above point to qualifying as a non-GAAP measure; The SEC's prohibition to exclude depreciation, amortization, changes in estimates of accrued liabilities, or other recurring items ...