Financial Reporting and Analysis I

Reading 20. Financial Reporting Standards

Learning Outcome Statements

f. compare key concepts of financial reporting standards under IFRS and US generally accepted accounting principles (US GAAP) reporting systems;

CFA Curriculum, 2020, Volume 3

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Subject 5. Comparison of IFRS with Alternative Reporting Systems

A significant number of the world's listed companies report under either IFRS or U.S. GAAP. Although these standards are moving toward convergence, there are still significant differences in the framework and individual standards. Frequently, companies provide reconciliations and disclosures regarding the significant differences between reporting bases. These reconciliations can be reviewed to identify significant items that could affect security valuation.

User Contributed Comments 3

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YOUCANDOIT

Key Words: reconcilations and disclosures

Different reporting systems affect security valuation.

ybavly

Thanks YOUCANDOIT!

nmech1984

You did it YOUCANDOIT