IFRS vs GAAP Scenario

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Posted on by Hichem.Chekebkeb

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I have one scenario hoping to get some guidance from you.

I have a group of companies where the HQ is in Dubai where they follow IFRS and one of its branchs is in Spain & France which they have their own local GAAP, the challenging difference is that French government is forcing companies to abide to a given COA. How can make the two COAs live together as the HQ still wants to see the company's TB and consolidate in IFRS only.

Please let me know your thoughts and I would really appreciate your suggestions.

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guk1964 10,886 on at

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RE: IFRS vs GAAP Scenario

Why complicate?

Put the parallel COA account as a separate dimension.