Mexico vs. Us vs. Ifrs
pwc.com/mx/ifrs
IFRS, US GAAP and Mexican FRS: similarities and differences*
The Summary
A comparison of IFRS, US GAAP and Mexican FRS
pwc.com/mx/ifrs
PricewaterhouseCoopers México Mariano Escobedo 573, Col. Rincón del Bosque. C. P. 11580, México, D. F. Tel.: 5263 6000 Fax: 5263 6010
© 2009 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to PricewaterhouseCoopers Mexico, the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. *connectedthinking is a trademark of PricewaterhouseCoopers.
*connectedthinking
A closer look
A sampling of differences
This publication is designed to alert companies to the scope of accounting changes that IFRS conversion will bring and to stimulate executive thinking and preparation. With that in mind, the body of the publication provides an overview of some differences between IFRS, US GAAP and Mexican FRS(1). The differences with US GAAP included are considered relevant because some Mexican entities may have had identified the differences between Mexican FRS and US GAAP for example for a listing in the US and might find helpful this reference. This section provides a summary of some of the similarities and differences discussed in more detail on the complete publication. No summary publication can do justice to the many differences of detail that exist between US GAAP, IFRS and Mexican FRS. Even if the guidance is similar, there can be differences in the detailed application, which could have a material impact on the financial statements. In this publication, we have focused on the measurement similarities and differences most commonly found in practice. When applying the individual accounting frameworks, readers must consult all the relevant accounting standards and, where applicable, their national law. Listed companies must also follow relevant securities regulations and local stock exchange listing
IFRS, US GAAP and Mexican FRS: similarities and differences*
The Summary
A comparison of IFRS, US GAAP and Mexican FRS
pwc.com/mx/ifrs
PricewaterhouseCoopers México Mariano Escobedo 573, Col. Rincón del Bosque. C. P. 11580, México, D. F. Tel.: 5263 6000 Fax: 5263 6010
© 2009 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to PricewaterhouseCoopers Mexico, the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. *connectedthinking is a trademark of PricewaterhouseCoopers.
*connectedthinking
A closer look
A sampling of differences
This publication is designed to alert companies to the scope of accounting changes that IFRS conversion will bring and to stimulate executive thinking and preparation. With that in mind, the body of the publication provides an overview of some differences between IFRS, US GAAP and Mexican FRS(1). The differences with US GAAP included are considered relevant because some Mexican entities may have had identified the differences between Mexican FRS and US GAAP for example for a listing in the US and might find helpful this reference. This section provides a summary of some of the similarities and differences discussed in more detail on the complete publication. No summary publication can do justice to the many differences of detail that exist between US GAAP, IFRS and Mexican FRS. Even if the guidance is similar, there can be differences in the detailed application, which could have a material impact on the financial statements. In this publication, we have focused on the measurement similarities and differences most commonly found in practice. When applying the individual accounting frameworks, readers must consult all the relevant accounting standards and, where applicable, their national law. Listed companies must also follow relevant securities regulations and local stock exchange listing