Difference Entre Ifrs Us Gaap Swiss Gaap Fer
IFRS US GAAP Swiss GAAP FER
Summary of similarities and differences 2007/2008 Edition
1
IFRS – US GAAP – Swiss GAAP FER
Summary of similarities and differences
2007/2008 Edition This PricewaterhouseCoopers publication is for those who wish to gain a broad understanding of the key similarities and differences between IFRS, US GAAP and Swiss GAAP FER. No summary publication can do justice to the many differences of detail that exist between IFRS, US GAAP and Swiss GAAP FER. Even if the guidance is similar, there can be differences in the detailed application, which could have a material impact on the financial statements. It needs to be stressed that this brochure deals with the main differences only. Many more pages would be needed to be more comprehensive, but that was not our objective with this publication. This publication focuses on the measurement similarities and differences most commonly found in practice. When applying the individual accounting frameworks, readers should consult all the relevant accounting standards and, where applicable, their national law. Listed companies should also follow relevant securities regulations. IFRS and US GAAP are globally acknowledged accounting standards for which a broad range of theoretical background, interpretations and literature is available. Swiss GAAP FER focuses on accounting for small and medium sized organisations and groups based in Switzerland; if there are questions that are not answered by a respective standard, the general principle of a true and fair view should be applied. This summary is based on IFRS and US GAAP developments up to August 2007 and on Swiss GAAP FER as applicable from January 1, 2007. It does not cover Swiss GAAP FER 14 Consolidated financial statements of insurance companies, Swiss GAAP FER 21 Accounting for charitable, social non-profit organisations and Swiss GAAP FER 26 Accounting of pension plans. We trust you will find this publication useful in helping you identify the key
Summary of similarities and differences 2007/2008 Edition
1
IFRS – US GAAP – Swiss GAAP FER
Summary of similarities and differences
2007/2008 Edition This PricewaterhouseCoopers publication is for those who wish to gain a broad understanding of the key similarities and differences between IFRS, US GAAP and Swiss GAAP FER. No summary publication can do justice to the many differences of detail that exist between IFRS, US GAAP and Swiss GAAP FER. Even if the guidance is similar, there can be differences in the detailed application, which could have a material impact on the financial statements. It needs to be stressed that this brochure deals with the main differences only. Many more pages would be needed to be more comprehensive, but that was not our objective with this publication. This publication focuses on the measurement similarities and differences most commonly found in practice. When applying the individual accounting frameworks, readers should consult all the relevant accounting standards and, where applicable, their national law. Listed companies should also follow relevant securities regulations. IFRS and US GAAP are globally acknowledged accounting standards for which a broad range of theoretical background, interpretations and literature is available. Swiss GAAP FER focuses on accounting for small and medium sized organisations and groups based in Switzerland; if there are questions that are not answered by a respective standard, the general principle of a true and fair view should be applied. This summary is based on IFRS and US GAAP developments up to August 2007 and on Swiss GAAP FER as applicable from January 1, 2007. It does not cover Swiss GAAP FER 14 Consolidated financial statements of insurance companies, Swiss GAAP FER 21 Accounting for charitable, social non-profit organisations and Swiss GAAP FER 26 Accounting of pension plans. We trust you will find this publication useful in helping you identify the key