| Financial reporting perspectives |
"US GAAP vs. IFRS: The basics"-updated
The convergence of US GAAP and IFRS continues to be a high priority for both the FASB and the IASB. Our guide takes a top level look at the accounting and reporting issues and provides an overview, by accounting area, of where the standards are similar, where they diverge, and any current convergence projects.
This edition has been updated including standards issued through October 2009(pdf, 603kb).
View a sample set of IFRS financial statements
Are you prepared for year-end reporting under International Financial Reporting Standards (IFRS)? To help you get ready, review our
illustrative set of consolidated financial statements for a fictitious international corporation. Year-end is 31 December 2009. The statements are based on International Financial Reporting Standards in issue at 31 August 2009.
Just the facts on IFRS: a new resource for clients
It seems only a matter of time before International Financial Reporting Standards (IFRS) are adopted in the United States. However, given the sheer volume of information available, professionals may find it difficult to determine the true status and timing of IFRS adoption. Our newsletter,
Just the facts, can help you keep up with recently reported information on notable events and people that inform the conversation about the final goal: a single set of high-quality accounting and financial reporting standards.
IFRS risk planning and controls execution
If you’ve been delaying the conversion process to IFRS, you might want to consider utilizing Internal Control over Financial Reporting (ICFR) personnel and operational audit staff. They can evaluate the IFRS’ effects on your business operations and help
prepare your internal control and operational risk systems for IFRS now. "US GAAP vs. IFRS: The basics" for industries
In our new set of "US GAAP vs. IFRS: The basics" guides, we take a top level look at the accounting and reporting issues most relevant to reporting entities in the oil and gas, homebuilding and telecommunication industres and provide an overview of where the standards are similar, where they diverge, and any current convergence projects.
IT’s essential role in conversion planning
CIOs and IT leaders recognize IFRS conversion as an opportunity to drive out inefficiencies. But there are formidable obstacles along the way. Discover how advanced planning and scoping helps drive forward IT strategy and business results. Read
IT must play a key role in adapting to IFRS (pdf, 92kb), published in
Bank Systems & Technology. IFRS conversion: a catalyst for change
Can your IT infrastructure support IFRS reporting requirements? The change to IFRS involves more than financial reporting processes and general ledger systems. IT must factor in the full range of obstacles on the road to conversion. Read about it in
Accounting for New Rules, (pdf, 121kb) published in
Insurance & Technology.Going 'live' with IFRS: the role of energy IT
While accounting changes drive IFRS conversion, there are significant implications for IT as well. In fact, the IT organization will be integral to any IFRS adoption initiative.
Inside IFRS: the opportunity for energy IT (pdf, 386kb) discusses the potential complexities of IFRS conversion and the effects on applications, reports and data that are specific to businesses in the oil and gas industry.
Amendments to IFRS 1
The IASB has issued Amendments to IFRS 1,
Additional Exemptions for First-time Adopters, providing additional relief from the full retrospective application of IFRS for themeasurement of oil and gas assets and leases. This
Hot Topic (pdf, 215kb) summarizes the proposals and their impact on businesses.
