Deloitte
Accounting Research Tool
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Chapter 1 — Overview of Accounting for Business Combinations

1.6 Comparison of U.S. GAAP and IFRS Accounting Standards

1.6 Comparison of U.S. GAAP and IFRS Accounting Standards

ASC 805 is the primary source of guidance in U.S. GAAP on the accounting for business combinations and related matters. IFRS 3 is the primary source of such guidance under IFRS® Accounting Standards. Although the standards are largely converged, some differences remain. See Appendix E for a discussion of those differences.