IFRS vs ASC: Valuation Perspective

This article aims to highlight the key valuation triggers that stem from the application of various International Financial Reporting Standards (IFRS) and outline the valuation-specific differences between IFRS and the Accounting Standards Codification (ASC). The comprehensive analysis presented here would give readers a broad understanding of the valuation practices under IFRS as well as the nuances that differentiate valuations under IFRS from that of ASC.

IFRS – 1 (First-Time Adoption)

This standard sets out the procedures that an entity must follow when it adopts International Financial Reporting Standards (IFRS) for the first time as the basis for preparing its generalpurpose financial statements.