This text is a valuable addition to the financial statement analysis literature with its emphasis on financial reporting from an IFRS perspective, while highlighting major differences between IFRS and U.S. GAAP throughout. With IFRS rapid global adoption, it provides a financial statement analysis foundation for analysts globally who will be comparing IFRS and U.S. GAAP financial statements in the coming years as convergence continues. The authors' integration of the IFRS framework throughout the text is particularly noteworthy, since it is the first source of guidance that professionals utilize when applying IFRS in practice.