How does the application of the criteria for accounting for leases differ between U.S. GAAP and IFRS?

Question:

How does the application of the criteria for accounting for leases differ between U.S. and IFRS?
GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...