What are measurement differences in financial reporting and what would be an example of a difference between IFRS and U.S. GAAP?

Measurement differences result in different amounts being recognized in the financial statements from using different measurement methods. An example of measurement differences between IFRS and U.S. GAAP exists for the measurement of a contingent liability. For example, when it is determined under both sets of accounting standards that a contingent liability needs to be recognized, and a range of possible cash outflows exists, IFRS requires measurement of the liability at the midpoint of the range when all points in the range are equally likely. However, U.S. GAAP requires the liability to be measured at the low end of the range of values.