What are the major types of differences between U.S. GAAP and IFRS? Give an example of each.

Question:

What are the major types of differences between U.S. and IFRS? Give an example of each.

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...