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What are the types of differences that exist between IFRS and US GAAP. In addition to just identifying the U.

What are the types of differences that exist between IFRS and US GAAP. In addition to just identifying the U.S. GAAP/IFRS differences though, please discuss the status of convergence with respect to those differences.

The types of differences that exist between IFRS and U.S. GAAP can be classified as:
• Definition differences
• Recognition differences
• Measurement differences
• Differences in allowed alternatives
• Differences in (lack of) guidance
• Presentation differences
• Disclosure differences

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