are the needed disclosures. Q16-13 Accounting for uncertainty in tax positions is prescribed by GAAP in FASB ASC 740-10: Income Taxes- Overall (previously FASB Interpretation No. 48 (FIN 48)). Describe the two-step process required by GAAP IFRS and U.S. GAAP follow similar approaches to accounting for taxation. Nevertheless, differences in reported Q16-14 IFRS Q 16-15 What is intraperiod tax allocation? amounts for deferred taxes are among the most frequent between IFRS and U.S. GAAP. Why?