Which of the following statements related to U.S. GAAP and IFRS is incorrect:

both U.S. GAAP and IFRS include guidance for adjusting entries.

both U.S. GAAP and IFRS prepare the same four financial statements

U.S. GAAP does not require items to be separated by current and noncurrent classifications on the balance sheet

U.S. GAAP balance sheets report current items first

IFRS balance sheets normally present noncurrent items first