U.S. GAAP vs IFRS: The Basics

With convergence of accounting standards a high priority on the agendas of both the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), Ernst & Young attempt to clear the confusion around convergence issues and differences between the two sets of standards in the attached document: U.S. GAAP vs. IFRS: The Basics.