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Appendix A — Differences Between U.S. GAAP and IFRS Standards

Appendix A — Differences Between U.S. GAAP and IFRS Standards

Appendix A — Differences Between U.S. GAAP and IFRS Accounting Standards

Although the accounting for noncontrolling interests under U.S. GAAP is generally consistent with their treatment under IFRS® Accounting Standards, there are some differences, such as those summarized in the table below.1 The differences outlined are based on a comparison of authoritative literature under U.S. GAAP and IFRS Accounting Standards and do not necessarily include interpretations of such literature.

Footnotes

1
In addition to the differences in the table, a reporting entity should consider any potential differences that could arise as a result of respective regulatory requirements. For example, the SEC staff announcement codified in ASC 480-10-S99-3A indicates that when an equity instrument (e.g., a common-share or preferred-share redeemable noncontrolling interest) has a redemption feature not solely within the control of the issuer, an SEC registrant is required to present the instrument on the balance sheet between permanent equity and liabilities in a section labeled “temporary equity” or “mezzanine equity.” Under IFRS Accounting Standards, however, there is no concept of temporary equity (noncontrolling interests that qualify for temporary equity presentation under ASC 480-10-S99-3A would typically need to be classified as liabilities under IFRS Accounting Standards). For additional information related to that difference specifically, see Section 9.4.1 of this publication and Section 10.2 of Deloitte’s Roadmap Distinguishing Liabilities From Equity.