Because IFRS is more flexible than GAAP, balance sheets may differ in a few key ways under the two standards, including:
Starting with current assets under GAAP, but non-current assets under IFRS
Adding more disclosures under GAAP than under IFRS
Ordering accounts from most to least liquidity under GAAP and the opposite under IFRS
Using a last-in, first-out (LIFO) approach under GAAP, which isn’t allowed by IFRS