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Our US GAAP/IFRS accounting differences identifier tool, which helps entities identify some of the more common accounting differences between US GAAP and IFRS that may affect an entity’s financial statements when converting from US GAAP to IFRS (or vice versa), has been updated. This release reflects guidance effective in 2019 and guidance finalized by the FASB and the IASB generally as of 30 June 2019. It also discusses standard-setting activities at the FASB and the IASB and reflects the following significant new standards and related consequential amendments: ASC 326, Financial Instruments – Credit Losses and ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. We have not included differences before the adoption of: ASU 2018-07; ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities; ASC 842 and IFRS 16, Leases; and ASC 606 and IFRS 15, Revenue from Contracts with Customers.