List Five differences in the Format of Foreign vs Domestic Companies Income Statement. List Five differences in the Format of Foreign vs Domestic Companies Balance Sheet. Solution Differences between IFRS and U.S. GAAP Issue IFRS U.S. GAAP Documents included in the financial statements Balance sheet Income statement Changes in equity Cash flow statement Footnotes Balance sheet Income statement Statement of comprehensive income Changes in equity Cash flow statement Footnotes Balance sheet Requires separation of current and noncurrent assets and liabilities Recommends separation of current and noncurrent assets and liabilities Deferred taxes Shown as separate line items on the balance sheet Included with assets and liabilities Minority interests (usually ownership positions by significant but not majority investors) Included in equity as a separate line item Included in liabilities as a separate line item Extraordinary items (events that don .