A recent IFRS Foundation survey found that 167 jurisdictions now require the use of IFRS Accounting Standards for all or most publicly listed companies, while a further 12 jurisdictions permit its use. With this global acceptance, and as more than 1,000 foreign companies are reporting to the SEC using IFRS, learn how to read and understand the differences between U.S. GAAP and IFRS financial reports. This course, the second in a three-course series, concentrates on the assets and liabilities as reported in the financial statements. Analyze U.S. GAAP and IFRS financial reports and outline basic distinctions between the financial reports in the 3-course series. Excerpts from public company financial reports will be reviewed.