"The table on the following pages sets out some of the key differences between IFRSs and US GAAP, based on standards, interpretations and other accounting literature in issue at 30 June 2008...
This summary does not attempt to capture all of the differences that exist or that may be material to a particular entity’s financial statements. Our focus is on differences that are commonly found in practice.The significance of these differences – and others not included in this list – will vary with respect to individual entities depending on such factors as the nature of the entity’s operations, the industry in which it operates, and the accounting policy choices it has made. Reference to the underlying accounting standards and any relevant national regulations is essential in understanding the specific differences.The rate of progress being achieved by both the IASB and the FASB in their convergence agendas means that a comparison between standards can only reflect the position at a particular point in time. You can keep up to date on later developments via our IAS Plus website www.iasplus.com, which sets out the IASB agendas and timetables, as well as project summaries and updates..."
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Source: IAS Plus - Deloitte