The American Institute of CPAs (AICPA) has built a WIKI to make comparing IFRS to U.S. GAAP easier for accountants and business owners.
The WIKI is an easy to use side by side comparison of most major accounting issues affecting
Since there is no distinction between U.S. GAAP for large and small businesses, it makes sense for a SME to adopt the IFRS for SMEs. In shear weight and complexity, U.S. GAAP has over 17,000 pages and IFRS for SMEs only 2,500.
If you are a bookkeeper, CPA, tax attorney or small business owner considering the move to IFRS early, the WIKI on the AICPA website is a good resource. The AICPA is providing the WIKI platform but doesn’t endorse or approve WIKI entries.
For more information, the AICPA Journal of Accountancy has a concise discussion of IFRS for SMEs.
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