A recent article in CA magazine (Canada) discussses the Seven Key Differences that public companies will need to deal in their changeover to IFRS: Given that U.S. GAAP and Canadian GAAP are virtually identical in these areas, they will be the key areas for U.S. issuers as well.
· property, plant and equipment
· revenues
· impairment of assets
· provisions
The article also identified three other topics where practice might differ fundamentally from that mandated by IFRS and that would likely affect most public entities:
· presentation of financial statements
· related parties
· leases
Check this article out—it is a high level overview tied to examples from an actual set of IFRS financials.
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