The comparability of international accounting standards and US GAAP: an empirical study of Form 20-F reconciliations

José Luis Ucieda Blanco · Beatriz García Osma

33 citations0/0 files storedInternational Journal of Accounting Auditing and Performance Evaluation

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Auditing, Earnings Management, Governance Accounting Theory and Financial Reporting Financial Reporting and XBRL

Abstract

This paper studies the comparability between US GAAP and International Accounting Standards/International Financial Reporting Standards (IAS/IFRS) by looking at the Form 20-F reconciliation adjustments to US GAAP made by firms using IASs in the period from 1995 to 2001. Adjustments have been classified in categories to identify the characteristics of reported differences: frequency, significance and materiality. Previous research by Street et al. and by Adams et al. found evidence that the differences were both material and significant. We identify the areas that are frequently reconciled and that produce material adjustments. Overall, we conclude that, although material differences still exist, IASs and US GAAP seem to be converging.

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2006The economic consequences of increased disclosure: Evidence from international cross-listings☆

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2006The economic consequences of increased disclosure: Evidence from international cross-listings☆2008The Impact of mandatory conversion to IFRS on the net income of FTSEurofirst 80 firms 2008Are International Financial Reporting Standards (IFRS) an Unstoppable Juggernaut for US and Global Financial Reporting 2005Convergence to international financial reporting standards: the case of Turkey 2007Attribute differences between U.S. GAAP and IFRS earnings: An exploratory study 2014Impact Of Adopting IAS-IFRS On The Handling Of Accounting Data: The Case Of France 2008The Impact in the United States of Global Adoption of IFRS 2013Financial reporting comparability: toward an XBRL ontology of the FASB/IFRS conceptual framework

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