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    US GAAP vs. IFRS: Shareholder equity section

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    Please help with the following problem.

    Briefly describe some of the similarities and differences between U.S. GAAP and IFRS with respect to the accounting for stockholders' equity.

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    For the most part, the equity section in US GAAP and IFRS are very similar. They both require the disclosure of all the classes of stock, shares authorized and issued, retained earnings, and details about shares repurchased as treasury shares. Both require a reconciliation of the items in the equity section to show the activity over the period. Neither includes minority interest as part of equity totals. If you were to ...

    Solution Summary

    The following posting gives four similarities and four differences in the shareholder's equity section of US GAAP versus IFRS. The discussion is given in 251 words.