IFRS and U.S.GAAP rules for revenue recognition and measurement largely overlap.

While there are some differences between IFRS and U.S.GAAP in terms of revenue recognition and measurement, the two frameworks largely overlap. Both frameworks require revenue to be recognized when it is earned and when collectibility is reasonably assured, and both use similar criteria to determine whether revenue should be recognized over time or at a point in time. However, there are some differences in specific areas, such as the treatment of variable consideration and contract costs, which should be carefully considered when applying the standards.