Similarities and differences
As more companies look outside their borders for potential buyers, targets, and capital, knowledge and understanding of the local accounting principles become increasingly important. Significant differences in both bottom-line impact and disclosure requirements exist between IFRS, US GAAP and Belgian GAAP (“BE GAAP”). Understanding these differences and their impact on key financial metrics, as well as on both short- and long-term financial reporting requirements, will lead to a more informed decision-making process and help minimize late surprises that could significantly impact deal value or timing. This publication provides an overview of the major differences between IFRS, US GAAP and BE GAAP. To assist investors and preparers, this publication provides a broad understanding of the major differences between IFRS, US GAAP and BE GAAP as they exist today.
This publication is not all-encompassing. It focuses on those differences that we generally consider to be the most significant or most common. When applying the individual accounting frameworks, companies should consult all of the relevant accounting standards and, where applicable, national law.
Managing Director, PwC Belgium
Tel: +32 473 91 06 78