Page 62 of Schweser Book 3 has a small chart which shows examples of differences between IFRS and GAAP. Only three examples are shown, but I’m unclear on all of them: 1. Consolidation - chart says that US GAAP relies on voting interest model and variable interest model. However I remember specifcally from the FSA section that voting is no longer considered and only the majority of the risks and rewards is considered. Is the text on voting interest wrong? 2. Investments - chart says that IFRS investments are frequently revisted to fair value while GAAP investments are usually at historic cost. Does anyone agree or can anyone give examples? Seems to me that AFS, HTM, and HFT are all very similar in treatment under both standards. 3. Share based compensation - chart says that under IFRS, it is immediately expensed while under GAAP options controlled by employee are immediately expensed. What does this exactly mean / what is the difference? I thought it was the same.