IFRS and U.S. GAAP follow similar approaches for accounting for taxation. Nevertheless, differences in reported amounts for

Question:

IFRS and U.S. follow similar approaches for accounting for taxation. Nevertheless, differences in reported amounts for deferred taxes are among the most frequent between IFRS and U.S. . Why?

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...