Posts Tagged ‘IFRS’

Lease accounting continues to be controversial and complicated. The FASB and the IASB are working on a joint project to radically restructure lessee accounting, but in the meantime important differences remain between US GAAP and IFRS. This webcast, offered by Compliance Week, will briefly explore current differences in the accounting for lease transactions, including land leases, investment property, and sale and leaseback transactions with a brief look ahead at what changes are under discussion at the FASB and the IASB.

Visit Complianceweek.com for the full article.

FASB has significantly changed the accounting for employee benefits in the past two years, creating additional differences between U.S. GAAP and IFRS. This webcast, offered by Compliance Week, will explore current differences in the accounting for employee benefits, including compensated absences, post-employment benefits, and post-retirement benefits, with a brief look ahead at what changes are under discussion at IASB.

Visit Complianceweek.com for the full article.

WebCPA.com reports on a study by professors at Oxford University which found that a majority of the 749 CFOs they surveyed from the U.S., Germany, France and the United Kingdom favor international standards. But many question; are global accounting standards achievable?

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Article from CFO.com regarding the release of the SEC roadmap for transitioning U.S. companies to international accounting rules, which includes the estimated costs.

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The SEC wants some of the largest U.S. companies to adopt international rules early, but limitations and uncertainty in its plan could diminish those hopes.

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A white paper from the consulting firm RSM McGladrey shares insights, tips and best practices for helping your business prepare for convergence to IFRS.

Visit the RSM McGladrey Web site for the full article.

If American companies plan on moving to IFRS, their financial statement preparers will require less technical training and more instruction on “soft skills.”

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White paper from Deloitte, available on CFO.com, explains how a shared environment for IFRS reporting can contribute to financial savings, in addition to reporting standardization.

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Standard-setters are keen on driving the world toward a single set of rules, but Moody’s Investor Service contends that reporting in IFRS doesn’t necessarily help comparability. Read the CFO article examining this prevailing, but perhaps unnecessary shift.

Business Finance reports on survey conducted by Protiviti Inc., a consulting and audit firm, demonstrating that U.S. companies have made little or no preparations for the shift to IFRS.