Segment Reporting: IFRS vs. U.S. GAAP

The accounting rules for segment reporting differ based on whether IFRS or U.S. GAAP is used. According to U.S. GAAP, for example, a company must disclose assets by segment, but is not required to disclose liabilities by segment. According to IFRS, on the other hand, a company should disclose assets and/or liabilities by segment if the chief operating decision maker reviews assets and liabilities by segment.

Another difference between U.S. GAAP and IFRS is that IFRS requires companies to include intangible assets when disclosing long-lived assets by segment. Firms that follow U.S. GAAP, however, generally include only property, plant, and equipment when disclosing long-lived assets.—
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