Top 10 differences between IFRS 15 and ASC 606
Given Canada’s close proximity to the United States, regulatory issues that arise south of the border often affect Canadian companies. That is certainly the case when it comes to the separate amendments issued by the IASB and the FASB related to their new revenue standards—IFRS 15 and ASC 606. The differences—and similarities—between these guidelines should be of particular interest to Canadian companies listed as foreign private issuers in the U.S.
If your company falls into that category, take a look at the following article released by our U.S. firm. Then, if you have any questions related to the application of IFRS or U.S. GAAP, please contact us.
IFRS Perspectives: Updates on IFRS issues in the US