The accounting for defined-benefit pension plans is the same under U.S. GAAP and IFRS.

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While there are similarities between the accounting for defined-benefit pension plans under U.S. GAAP and IFRS, there are also significant differences. For example, under U.S. GAAP, companies are allowed to use a smoothing technique to calculate the value of plan assets and the benefit obligation, while IFRS requires the use of the fair value of plan assets and the expected present value of future benefits. Additionally, under U.S. GAAP, companies can recognize the unrecognized net gain or loss resulting from experience adjustments over a period of up to 15 years, while IFRS requires immediate recognition in other comprehensive income.

The Accounting for Defined-Benefit Pension Plans Is the Same Under