What counts as verified?
EY US GAAP/IFRS Accounting Standards Differences Identifier Tool, January 2026. Third-party list posts can help discover candidates, but they do not qualify as the final source for a retained row.
US GAAP vs IFRS Differences Checklist, 2026
A spreadsheet-ready index of 315 accounting difference prompts organized by topic, based on EY's January 2026 US GAAP/IFRS Accounting Standards Differences Identifier Tool.
315verified rowsJuly 29, 2026last checkedYearlyrefresh schedule
| # | Accounting topic | Question number | Difference evaluation prompt | Guide page | Official source | Checked |
|---|---|---|---|---|---|---|
| 01 | Financial statement presentation | 1 | Is the entity required to present a complete set of financial statements? | 3 | Open source ↗ | 2026-07-29 |
| 02 | Financial statement presentation | 2 | Did the entity apply an accounting policy retrospectively, or make a retrospective restatement or reclassification of items in its financial statements? | 5 | Open source ↗ | 2026-07-29 |
| 03 | Financial statement presentation | 3 | Did the entity refinance any short-term borrowings after the reporting period but before issuance of the financial statements? | 6 | Open source ↗ | 2026-07-29 |
| 04 | Financial statement presentation | 4 | Was debt callable at the balance sheet date due to a covenant violation for which the entity received a waiver or loan modification after the balance sheet date? | 7 | Open source ↗ | 2026-07-29 |
| 05 | Financial statement presentation | 5 | Does the entity have components of other comprehensive income (OCI)? | 8 | Open source ↗ | 2026-07-29 |
| 06 | Financial statement presentation | 6 | Does the entity have equity method investees/associates? | 9 | Open source ↗ | 2026-07-29 |
| 07 | Financial statement presentation | 7 | Does the entity classify its expenses solely by function without additional disclosure of certain expenses by nature (e.g., depreciation and amortization expense, employee benefits expense)? | 10 | Open source ↗ | 2026-07-29 |
| 08 | Financial statement presentation | 8 | Does the entity disclose changes in equity in the notes to the financial statements? | 11 | Open source ↗ | 2026-07-29 |
| 09 | Financial statement presentation | 9 | Are any additional line items, headings or subtotals presented by an entity because they are relevant to an understanding of the entity’s financial performance? | 12 | Open source ↗ | 2026-07-29 |
| 10 | Financial statement presentation | 10 | Does the entity have both receivables and payables with the same counterparty and a right of setoff? | 13 | Open source ↗ | 2026-07-29 |
| 11 | Financial statement presentation | 10(a) | Does the entity currently offset fair value amounts related to derivative contracts subject to a master netting agreement and present a net amount on the balance sheet? | 14 | Open source ↗ | 2026-07-29 |
| 12 | Financial statement presentation | 10(b) | Does the entity offset amounts recognized as payables under repurchase agreements against amounts recognized as receivables under reverse repurchase agreements and present as a net amount in the balance sheet? | 15 | Open source ↗ | 2026-07-29 |
| 13 | Financial statement presentation | 10(c) | Is the entity a broker-dealer in securities that offsets payables against receivables arising from unsettled regular-way trades? | 16 | Open source ↗ | 2026-07-29 |
| 14 | Financial statement presentation | 10(d) | Is the entity a bank or savings institution that offsets reciprocal account balances with other banks in the process of collection or payment? | 17 | Open source ↗ | 2026-07-29 |
| 15 | Financial statement presentation | 11 | Does the entity prepare interim financial information and have costs that benefit more than one interim period? | 18 | Open source ↗ | 2026-07-29 |
| 16 | Consolidation | 1 | Does the reporting entity have involvement with variable interest entities (VIEs)/structured entities or hold interests in other entities? | 20 | Open source ↗ | 2026-07-29 |
| 17 | Consolidation | 2 | Does the reporting entity have an interest in an entity that is subject to potential voting rights? | 22 | Open source ↗ | 2026-07-29 |
| 18 | Consolidation | 3 | Is the reporting entity an investment company or does it have interests in investment companies? | 23 | Open source ↗ | 2026-07-29 |
| 19 | Consolidation | 4 | Does the reporting entity have de facto control over any non-consolidated entities? | 24 | Open source ↗ | 2026-07-29 |
| 20 | Consolidation | 5 | Did the reporting entity initially consolidate an entity that is not a business? | 25 | Open source ↗ | 2026-07-29 |
| 21 | Consolidation | 6 | Do any consolidated entities apply different accounting policies from those of the reporting entity? | 26 | Open source ↗ | 2026-07-29 |
| 22 | Consolidation | 7 | Do any consolidated entities have different reporting dates from those of the reporting entity? | 27 | Open source ↗ | 2026-07-29 |
| 23 | Consolidation | 8 | Has there been a decrease in ownership interest or the loss of control of a subsidiary, or the sale or transfer of a group of assets? | 28 | Open source ↗ | 2026-07-29 |
| 24 | Consolidation | 9 | Does the reporting entity present parent-only (i.e., separate or non-consolidated) financial statements? | 30 | Open source ↗ | 2026-07-29 |
| 25 | Joint ventures and joint operations | 1 | Has the investor entered into any contractual agreements with another party or parties that may provide for joint control over an activity or an entity? | 35 | Open source ↗ | 2026-07-29 |
| 26 | Joint ventures and joint operations | 2 | Is the reporting entity a newly formed joint venture? | 37 | Open source ↗ | 2026-07-29 |
| 27 | Equity method investments/associates | 1 | Does the investor hold an equity interest in an investee that is a corporation? | 40 | Open source ↗ | 2026-07-29 |
| 28 | Equity method investments/associates | 2 | Does the investor have investments in limited partnerships, limited liability companies, trusts or similar entities? | 41 | Open source ↗ | 2026-07-29 |
| 29 | Equity method investments/associates | 3 | Does the investor hold currently exercisable potential voting rights in investees or are such rights held by others? | 42 | Open source ↗ | 2026-07-29 |
| 30 | Equity method investments/associates | 4 | Does the investor have “held for sale” equity method investments/associates? | 43 | Open source ↗ | 2026-07-29 |
| 31 | Equity method investments/associates | 5 | Does the investor have any equity method investments/associates for which the fair value option has been selected? | 44 | Open source ↗ | 2026-07-29 |
| 32 | Equity method investments/associates | 6 | Does the investor have an equity method investment/associate that it initially accounted for as a financial asset but later switched to using the equity method (e.g., due to a subsequent acquisition of an additional interest)? | 45 | Open source ↗ | 2026-07-29 |
| 33 | Equity method investments/associates | 7 | Are there disposals (e.g., partial, deemed) of equity method investments/associates that result in loss of significant influence? | 46 | Open source ↗ | 2026-07-29 |
| 34 | Equity method investments/associates | 8 | Has there been an impairment in equity method investments/associates? | 47 | Open source ↗ | 2026-07-29 |
| 35 | Equity method investments/associates | 9 | Have the equity method investees/associates experienced losses in excess of the investor’s interest? | 49 | Open source ↗ | 2026-07-29 |
| 36 | Equity method investments/associates | 10 | Do any equity method investees/associates apply different accounting policies from those of the investor? | 50 | Open source ↗ | 2026-07-29 |
| 37 | Equity method investments/associates | 11 | Do any equity method investees/associates have different reporting dates from that of the investor? | 51 | Open source ↗ | 2026-07-29 |
| 38 | Equity method investments/associates | 12 | Does the investor present its parent-only (i.e., separate or non-consolidated) financial statements? | 52 | Open source ↗ | 2026-07-29 |
| 39 | Equity method investments/associates | 13 | Upon acquisition of an investment in an investee/associate, did the consideration given include amounts contingent on future events? | 53 | Open source ↗ | 2026-07-29 |
| 40 | Equity method investments/associates | 14 | Has the investor transferred any assets to an equity method investee/associate or joint venture? | 54 | Open source ↗ | 2026-07-29 |
| 41 | Equity method investments/associates | 15 | At the date the equity method investment was obtained, was the fair value of consideration transferred less than the investor’s share of the fair value of the identifiable net assets of the investee? | 56 | Open source ↗ | 2026-07-29 |
| 42 | Business combinations | 1 | Does the acquired set of transferred assets and activities meet the definition of a business? | 58 | Open source ↗ | 2026-07-29 |
| 43 | Business combinations | 2 | Did the acquirer recognize assets and liabilities arising from pre-acquisition contingencies? | 59 | Open source ↗ | 2026-07-29 |
| 44 | Business combinations | 3 | Did the entity acquire operating leases where the acquiree was the lessor? | 61 | Open source ↗ | 2026-07-29 |
| 45 | Business combinations | 4 | Did the business combination include the acquisition of contracts with customers? | 62 | Open source ↗ | 2026-07-29 |
| 46 | Business combinations | 5 | Does the entity have an obligation to transfer additional consideration to the former owners of the acquiree if specified future events occur or conditions are met? | 63 | Open source ↗ | 2026-07-29 |
| 47 | Business combinations | 6 | Did the entity exchange its share-based payment awards for awards held by grantees of the acquired entity? | 64 | Open source ↗ | 2026-07-29 |
| 48 | Business combinations | 7 | Did the entity acquire less than 100% of the acquiree? | 65 | Open source ↗ | 2026-07-29 |
| 49 | Business combinations | 8 | Did the acquirer recognize an adjustment to a provisional amount during the measurement period (i.e., a measurement period adjustment)? | 66 | Open source ↗ | 2026-07-29 |
| 50 | Business combinations | 9 | Did any transactions occur between entities under common control? | 67 | Open source ↗ | 2026-07-29 |
| 51 | Business combinations | 10 | Is pushdown accounting applied in the separate financial statements of an acquired subsidiary? | 68 | Open source ↗ | 2026-07-29 |
| 52 | Inventory | 1 | Does the reporting entity use the last-in, first-out (LIFO) method to value inventory? | 70 | Open source ↗ | 2026-07-29 |
| 53 | Inventory | 2 | Have inventories that were written down below cost at the close of a fiscal year recovered in value during the reporting period? | 71 | Open source ↗ | 2026-07-29 |
| 54 | Inventory | 3 | Does the reporting entity use different costing methods for inventories that are similar in nature and use to the entity? | 72 | Open source ↗ | 2026-07-29 |
| 55 | Inventory | 4 | Has the reporting entity recorded a permanent inventory markdown under RIM? | 72 | Open source ↗ | 2026-07-29 |
| 56 | Inventory | 5 | Does the reporting entity classify major spare parts as inventories? | 73 | Open source ↗ | 2026-07-29 |
| 57 | Inventory | 6 | Has the entity recorded an asset retirement obligation (ARO) that was incurred during a particular period as a consequence of having used a long-lived asset to produce inventory during that period? | 73 | Open source ↗ | 2026-07-29 |
| 58 | Inventory | 7 | Does the entity capitalize into inventory any pension or postretirement benefit costs in connection with the construction or production of an asset? | 74 | Open source ↗ | 2026-07-29 |
| 59 | Property, plant and equipment | 1 | Does the reporting entity carry PP&E at a revalued amount? | 77 | Open source ↗ | 2026-07-29 |
| 60 | Property, plant and equipment | 2 | Does the reporting entity depreciate PP&E using a composite estimated life for an entire asset as opposed to following a component approach? | 78 | Open source ↗ | 2026-07-29 |
| 61 | Property, plant and equipment | 3 | Has the reporting entity incurred costs relating to a major inspection or overhaul of PP&E? | 79 | Open source ↗ | 2026-07-29 |
| 62 | Property, plant and equipment | 4 | Does the reporting entity have PP&E that could be considered investment property? | 80 | Open source ↗ | 2026-07-29 |
| 63 | Intangible assets | 1 | Did the entity incur costs relating to research and development activities (other than software development costs)? | 84 | Open source ↗ | 2026-07-29 |
| 64 | Intangible assets | 2 | Did the entity incur costs relating to computer software that was or will be sold, leased or otherwise marketed? | 85 | Open source ↗ | 2026-07-29 |
| 65 | Intangible assets | 3 | Did the entity incur costs relating to computer software developed for internal use? | 86 | Open source ↗ | 2026-07-29 |
| 66 | Intangible assets | 4 | Did the entity incur implementation costs as a customer in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract? | 87 | Open source ↗ | 2026-07-29 |
| 67 | Intangible assets | 5 | Does the entity account for intangible assets at cost? | 88 | Open source ↗ | 2026-07-29 |
| 68 | Intangible assets | 6 | Did the entity incur advertising expenditures? | 89 | Open source ↗ | 2026-07-29 |
| 69 | Intangible assets | 7 | Did the entity acquire an assembled workforce as part of an asset acquisition? | 90 | Open source ↗ | 2026-07-29 |
| 70 | Intangible assets | 8 | Does the entity hold crypto assets? | 91 | Open source ↗ | 2026-07-29 |
| 71 | Impairment of long-lived assets held and used | 1 | Do impairment indicators of long-lived assets exist? | 94 | Open source ↗ | 2026-07-29 |
| 72 | Impairment of long-lived assets held and used | 2 | Are there indicators that long-lived assets held and used for which an impairment loss was recorded have recovered their value? | 97 | Open source ↗ | 2026-07-29 |
| 73 | Impairment of goodwill and indefinite-lived intangible assets | 1 | Does the entity have goodwill? | 99 | Open source ↗ | 2026-07-29 |
| 74 | Impairment of goodwill and indefinite-lived intangible assets | 2 | Did the entity recognize a goodwill impairment charge on goodwill recognized in an acquisition of less than 100% of the acquiree? | 101 | Open source ↗ | 2026-07-29 |
| 75 | Impairment of goodwill and indefinite-lived intangible assets | 3 | Does the entity have indefinite-lived intangible assets? | 103 | Open source ↗ | 2026-07-29 |
| 76 | Impairment of goodwill and indefinite-lived intangible assets | 4 | Are there indicators that indefinite-lived intangible assets for which an impairment loss was recorded have recovered their value? | 104 | Open source ↗ | 2026-07-29 |
| 77 | Recognition and measurement | 1 | Does the reporting entity have investments in equity securities? | 111 | Open source ↗ | 2026-07-29 |
| 78 | Recognition and measurement | 2 | Does the reporting entity have investments in debt securities? | 112 | Open source ↗ | 2026-07-29 |
| 79 | Recognition and measurement | 3 | Does the reporting entity have investments in loans or other receivables (either originated or acquired by the entity)? | 113 | Open source ↗ | 2026-07-29 |
| 80 | Recognition and measurement | 4 | Does the reporting entity have a financial instrument for which the FVO was elected? | 114 | Open source ↗ | 2026-07-29 |
| 81 | Recognition and measurement | 5 | Has the entity transferred any debt securities out of one category into another? | 118 | Open source ↗ | 2026-07-29 |
| 82 | Recognition and measurement | 6 | Does the reporting entity have an investment in a foreign currency-denominated financial asset that is measured at FV-OCI or using the measurement alternative? | 120 | Open source ↗ | 2026-07-29 |
| 83 | Recognition and measurement | 7 | Has the reporting entity originated or acquired any financial assets and is the entity amortizing the premium or discount using the effective interest method? | 121 | Open source ↗ | 2026-07-29 |
| 84 | Recognition and measurement | 8 | Has there been a change in the expectation of cash flows to be received related to a loan, debt security or debt issuance such that a change in interest income recognition may be required? | 123 | Open source ↗ | 2026-07-29 |
| 85 | Recognition and measurement | 9 | Are transaction costs related to the purchase of debt or equity securities measured at fair value (either measured at FV-NI/PL or FV-OCI or accounted for under ASC 946-320) excluded as a part of the securities’ cost basis at initial recognition? | 125 | Open source ↗ | 2026-07-29 |
| 86 | Recognition and measurement | 10 | Does the reporting entity have equity investments for which there is no readily determinable fair value? | 126 | Open source ↗ | 2026-07-29 |
| 87 | Recognition and measurement | 11 | Does the entity have financial assets measured at amortized cost (e.g., loans, a portfolio (pool) of loans, trade accounts receivable, HTM securities) for which it is assessing credit impairment? | 127 | Open source ↗ | 2026-07-29 |
| 88 | Recognition and measurement | 12 | Does the reporting entity have debt securities measured at FV-OCI that are impaired? | 130 | Open source ↗ | 2026-07-29 |
| 89 | Recognition and measurement | 13 | Does the entity hold AFS or HTM debt securities that previously recorded an impairment loss, which have subsequently recovered? | 132 | Open source ↗ | 2026-07-29 |
| 90 | Recognition and measurement | 14 | Has the entity purchased credit-deteriorated financial assets? | 133 | Open source ↗ | 2026-07-29 |
| 91 | Recognition and measurement | 15 | Has the entity entered into modifications of loan receivables? | 134 | Open source ↗ | 2026-07-29 |
| 92 | Derecognition of financial assets and financial liabilities | 1 | Has the reporting entity transferred an entire financial asset or groups of entire financial assets to an entity (including a structured entity) and derecognized such assets? If no, questions 2 through 7 do not need to be answered and evaluated | 139 | Open source ↗ | 2026-07-29 |
| 93 | Derecognition of financial assets and financial liabilities | 2 | Has the reporting entity achieved derecognition on the transfer of a portion of an entire financial asset? | 141 | Open source ↗ | 2026-07-29 |
| 94 | Derecognition of financial assets and financial liabilities | 3 | Has the reporting entity transferred financial assets to another entity subject to a performance guarantee? | 144 | Open source ↗ | 2026-07-29 |
| 95 | Derecognition of financial assets and financial liabilities | 4 | Has the reporting entity transferred financial assets to another entity pursuant to a transfer arrangement that includes a “cleanup call” that would allow the entity (transferor) to liquidate the trust or structured entity (the transferee) under specified conditions? | 146 | Open source ↗ | 2026-07-29 |
| 96 | Derecognition of financial assets and financial liabilities | 5 | Has the reporting entity transferred financial assets to another entity pursuant to a transfer arrangement that includes a “removal-of-accounts provision”? | 147 | Open source ↗ | 2026-07-29 |
| 97 | Derecognition of financial assets and financial liabilities | 6 | Has the reporting entity transferred a financial asset in conjunction with a total return swap with the same transferee? | 149 | Open source ↗ | 2026-07-29 |
| 98 | Derecognition of financial assets and financial liabilities | 7 | Has the reporting entity transferred financial assets and retained servicing rights? | 150 | Open source ↗ | 2026-07-29 |
| 99 | Derecognition of financial assets and financial liabilities | 8 | Has the reporting entity received or pledged collateral in connection with a securities lending transaction or repurchase agreement? | 151 | Open source ↗ | 2026-07-29 |
| 100 | Liabilities and equity | 1 | Has the entity issued any equity instruments other than simple common stock? For example, has it issued preferred stock, instruments with redemption features or equity instruments with conversion features? | 158 | Open source ↗ | 2026-07-29 |
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