Convergence to International Financial Reporting Standards (IFRS) is coming and if you don’t begin to educate yourself now, you and your company will be caught off-guard. Use this information to get up to speed with the latest IFRS developments.
Four steps your organization can take to prepare for IFRS
Conduct an IFRS skills and needs analysis
Take a look at management information systems
Analyze the business ramifications of IFRS convergence
Begin now to understand the judgment calls your organization will have to make under IFRS
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A Guide Through IFRS for Small and Medium-Sized Entities In July 2009, the International Accounting Standards Board released IFRS for SMEs, a set of standards that was designed to meet the needs of entities that do not have public accountability. Based on that guidance, RSM International (RSMI) drew upon the knowledge of RSMI IFRS experts worldwide to develop a detailed analysis to help small and medium-sized businesses understand the new standards as well as presenting the benefits of a global financial reporting language.
The SEC Roadmap is here. What is your company’s direction? The economic crisis may be grabbing the headlines, but the SEC and other regulatory bodies are pressing ahead with IFRS efforts. The deadlines are clarifying and drawing closer. And the competitive ramifications for companies that don’t act now could be dire. Download our white paper on what the SEC Roadmap means for your company.
The effect of convergence on real estate: How new standards may affect your investments As with all industries, convergence efforts will have a substantial effect on real estate in the coming years. Concepts such as fair value, business combinations, non-controlling interest, investment properties and lease accounting will undergo some significant changes as new standards are adopted.
