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

KEY ELEMENTS AND DECISIONS

Paragraphs I.A.1, I.A.3, I.A.1, and I.A.2

Place the IFRS statement of changes in equity within a complete set of financial statements, irrespective of the type of industry;

Understand under what circumstances the statement of changes in equity would be required under U.S. GAAP and whether alternative statements or note disclosure would be possible;

Compare the combinations of statements available under IFRSs and U.S. GAAP to report profit or loss, comprehensive income and reconcile equity balances.

Paragraphs I.A.4 and I.A.5

Understand the display or disclosure alternatives for reporting changes of equity by an SEC registrant depending on whether or not it has items of other comprehensive income;

Understand what items of changes in equity an SEC registrant must separately display or disclose;

Check that an SEC registrant with redeemable preferred stock does not report a total equity balance;

Understand the options available to SEC registrants to present or disclose controlling and noncontrolling interests in redeemable preferred stock;

Understand the impact on U.S. GAAP reconciliation and on U.S. GAAP supplemental statements of presenting a statement of changes in equity under IFRSs or local GAAP by foreign private issuers;

Understand the accommodations given to certain foreign private issuers for reporting accumulated other comprehensive income and each component of the accumulated balances of other comprehensive income.

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