Ifrs Us Gaap

Question 1

Subsequent reversal of impairment, allowed?

Answer 1

Ifrs yes
Us gaap no

Question 2

Variable interest entity

Answer 2

Concept not existing in IFRS

In Us GAAP it must be considered

Question 3

What adjuatment is done when there is hyperinflational economy?

Answer 3

Ifrs: adjusts the FS by using a general price level index before translating

Us gaap: adjusts the FS as if the reporting currency of the parent was its currency

Question 4

Until when subsequent events?

Answer 4

Ifrs: until authorization of issuance

Us gaap: until issuance or available to be issued

Question 5

Events after reporting date, classifciation of debt

Answer 5

Ifrs: not considered

Us gaap: are considered