PricewaterhouseCoopers has released the 2009 edition of its free downloadable guide comparing International Financial Reporting Standards with U.S. GAAP.

“IFRS and US GAAP: Similarities and Differences” is designed to improve companies’ understanding of the changes to, and major differences between, the two sets of standards.

The new guide is being released just as SEC Chief Accountant James Kroeker has re-affirmed the agency’s intention to re-examine the proposed roadmap to IFRS this fall.

The 2009 edition of the guide, PwC’s most-downloaded publication, alerts companies to the timing and scope of changes that U.S. GAAP/IFRS convergence, and the likely adoption of IFRS in the United States, will bring about. It also provides context, showing how convergence with, or adoption of, IFRS has ramifications far beyond the accounting department.

The guide has been updated to reflect the major changes related to market conditions and new accounting standards over the past year, with an additional overview of the new IFRS for Small and Medium-sized Entities standard. Further updates  include:

• Commentary and insight with respect to recent and proposed guidance, including developments pertaining to the overall convergence agenda;
• A report on the end-state of the US GAAP codification project;
• More detailed analysis of current differences between the frameworks including an assessment of the impact embodied within the differences; and,
• Updates incorporating authoritative standards and interpretive guidance issued through June 30, 2009.

For a free copy of the guide, visit

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