IFRS and US GAAP: similarities and differences — 2016 edition-经管之家官网！

This PwC publication provides a broad understanding of the major differences between IFRS and US GAAP, as well as insight into the level of change on the horizon.
To be successful in the US capital markets, it is important to be financially bilingual – you have to speak both IFRS and US GAAP.
We operate in a global marketplace and the impact of IFRS on US capital markets is not just about its domestic use in capital filings.
IFRS requirements elsewhere in the world affect many US companies – public or private, large or small — through cross-border, M&A activity, and due to the IFRS reporting demands of stakeholders outside the US. And the continued global adoption of IFRS means that the impact on multinational US businesses will only grow stronger, as additional countries permit or require IFRS for statutory reporting purposes and public filings.
From an investor perspective, the need to understand IFRS is arguably even greater. US investors keep looking overseas for investment opportunities. Recent estimates suggest that over $6 trillion of US capital is invested in non-US securities. The US markets also remain open to non-US companies that prepare their financial statements using IFRS. There are currently approximately 500 non-US filers with market capitalization in the multiple of trillions of US dollars that use IFRS without reconciliation to US GAAP.
To assist investors and preparers in becoming financially bilingual, this guide provides a broad understanding of the major differences between IFRS and US GAAP, as well as insight into the level of change on the horizon.
How to use this publicationThis publication is designed to alert companies, investors, and other capital market participants to the major differences between IFRS and US GAAP as they exist today, and to the timing and scope of accounting changes that the standard setting agendas of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) (collectively, the Boards) will bring.
This publication considers authoritative pronouncements and other developments under IFRS and US GAAP through June 30, 2016.