Under both U.S. GAAP and IFRS, bank overdrafts are netted against the other positive balances included in cash and cash equivalents.

Name: Under both U.S. GAAP and IFRS, bank overdrafts are netted against the other positive balances included in cash and cash equivalents.
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Under U.S. GAAP, bank overdrafts are typically reported as liabilities, whereas IFRS allows them to be netted against cash and cash equivalents if they are an integral part of the entity's cash management.

Under Both U