Find the financial statement of a company following U.S. GAAP and another following IFRS. Provide a screenshot of their balance sheet disclosures of Property Plant and Equipment sections. Explain 

1) how they are similar and 

2) how they are different. Explain why the legal culture in the U.S. may be different in other countries when explaining the reason for the dissimilarities.

Answer rating: 100% (QA)

The Balance Sheet The way a balance sheet is formatted is different in the US than in other countries Under GAAP current assets are listed first while a sheet prepared under IFRS begins with noncurren... View the full answer