美国会计准则与国际会计准则对比(英文).docVIP

Similarities and Differences A comparison of IFRS and US GAAP October 2007 Summary of similarities and differences Subject IFRS US GAAP Accounting framework Historical cost or valuation Generally uses historical cost, but intangible assets, property, plant and equipment (PPE) and investment property may be revalued to fair value. Derivatives, certain other financial instruments and biological assets are revalued to fair value. No revaluations except for certain types of financial instrument. First-time adoption of accounting framework Full retrospective application of all IFRSs effective at the reporting date for an entity’s first IFRS financial statements, with some optional exemptions and limited mandatory exceptions. Reconciliations of profit or loss in respect of the last period reported under previous GAAP, of equity at the end of that period and of equity at the start of the earliest period presented in comparatives must be included in an entity’s first IFRS financial statements. First-time adoption of US GAAP requires retrospective application. There is no requirement to present reconciliations of equity or profit or loss on first-time adoption of US GAAP. Financial statements1 Components of financial statements Two years’ balance sheets, income statements, cash flow statements, changes in equity and accounting policies and notes. Similar to IFRS, except three years required for SEC registrants for all statements except balance sheet. Specific accommodations in certain circumstances for foreign private issuers that may offer relief from the three- year requirement. Balance sheet Does not prescribe a particular format. A current/non-current 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. Entities may present either a classified or non-classified balance sheet. Items on the face of the balance sheet ar