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2013 AICPA Conference
on Doing Business in China

May 30-31, 2013 - Washington, DC - In its inaugural year, the AICPA is working with the American Learning Network to present the 2013 AICPA Conference on Doing Business in China. This conference will focus on providing strategic thinking, expert insights and practical solutions for doing business in China.

The 2013 Conference
on Doing Business in Brazil

July 18-19, 2013 - Orlando, FL- For U.S. companies to achieve success in new markets, it’s essential to have a keen understanding of the latest legal, regulatory, tax, accounting, economic and cultural issues that will confront them. The new 2013 Conference on Doing Business in Brazil provides you with the most current strategic solutions, expert insights and best practices for doing business in Brazil.

IFRS Financial Statements—Best
Practices in Presentation
and Disclosure 2012/2013

This invaluable resource provides the most comprehensive set of disclosure examples. Drawing from a carefully selected pool of 175 IFRS companies from 45 countries across various industries.

IFRS Quarterly Update -
2nd Quarter 2013

Friday, June 21 - This live, interactive AICPA video Webcast is part of our ongoing IFRS quarterly series designed to be part of a multi-step educational process to get practitioners up to speed in all aspects of IFRS implementation.

IFRS Update and Review
of Complex Topics

This course provides an in-depth examination of some of the most economically significant international accounting topics: revenue recognition, business combinations and impairments. The last part of the course provides an update on the issues and challenges of major current IASB projects.

IFRS News Clips

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New translations available in Arabic and Brazilian Portuguese
April 2, 2013 - The IFRS Foundation is pleased to announce the publication of the following translations:

•  Arabic translation of the 2012 International Financial Reporting Standards (Red Book).

•  Brazilian Portuguese translation of the 2012 International Financial Reporting Standards (Red Book). (IFRS.org)

FASB provides more time to compare credit loss proposals
March 28, 2013 - The Financial Accounting Standards Board has extended the comment period of its expected-credit-loss proposal in its financial-instruments project to May 31. (Journal of Accountancy)

IASB proposes simplified accounting for certain defined benefit contributions
March 25, 2013 An International Accounting Standards Board proposal would simplify accounting for contributions to defined-benefit plans under IAS 19, Employee Benefits. It provides an alternative when contributions payable in a particular period are linked just to the employee's service provided during that period. Comments are to be made by July 25. (Journal of Accountancy)

2013 IFRS (Red Book)—now available
March 12, 2013 - The IFRS Foundation is pleased to announce that the 2013 International Financial Reporting Standards (Red Book) is now available. (IFRS.org)

Webcast on proposed IFRS taxonomy 2013
February 7, 2013 - Webcast on the proposed IFRS taxonomy 2013 recording is now available. (IFRS.org)

UK’s Financial Reporting Council Has Joined Other European Standard Setters to Focus on IASB’s IFRS Framework
February 7, 2013 - Its goal, along with that of its counterparts, is to ensure that the views of the European stakeholders are adequately taken into consideration. (Economia)

IFRS Foundation publishes free teaching material
January 30, 2013 - The IFRS Foundation today published the first part of its Education Initiative’s comprehensive Framework-based IFRS teaching material. (IFRS.org)

Featured IFRS News

FASB among 12 participants in IASB advisory forum

March 19, 2013 - The Financial Accounting Standards Board is one of 12 standard setters from around the world that will serve as an inaugural member of an accounting advisory group. The Accounting Standards Advisory Forum will provide technical advice to the International Accounting Standards Board (Journal of Accountancy)

Kabureck’s Appointment to IASB Helps Assure Significant Representation on the Board by the U.S.

Kabureck’s Appointment to IASB Helps Assure Significant Representation on the Board by the U.S.

IFRS Foundation Overseer Finalizes Membership Criteria

March 1, 2013 - IFRS Foundation’s Monitoring Board has chosen Masamichi Kono as its Chairman and has instituted a new approach to its membership criteria assessment, which will allow for greater participation of expanding markets. (AccountingToday)

Trustees publish revised version of the IFRS Foundation Due Process Handbook

February 18, 2013 - The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), have published an updated version of the IFRS Foundation Due Process Handbook. (IFRS.org)

Trustees appoint Darrel Scott as Chairman of the SMEIG

The IFRS Foundation Trustees have approved the appointment of IASB member Darrel Scott as Chairman of the SME Implementation Group (SMEIG), replacing Paul Pacter, whose term at the IASB ended on 31 December 2012. (IFRS.org)

Tokyo Is Chosen Location of New IFRS Foundation Regional Office for Asia-Oceania

IASB recently opened the office, due to the Asia-Oceania region’s rapidly-growing economies and markets, as well as the fact that adoption of IFRS has already occurred in many areas. (AccountancyAge).

Accounting Standards Advisory Forum to Be Created by IASB

Hoogervorst states that the international community of standard setters will have a new forum, chaired by the IASB, in which to discuss the establishment of IFRS as a global standard, as well as other related topics. (AccountancyAge)

Click here for up-to-date news >

International Financial Reporting Standards (IFRS) - A Backgrounder

Get an introduction to the movement behind adoption of IFRS for public companies throughout the world. The AICPA's IFRS Backgrounder walks you through the regulators, standard setters and others who play a critical role and the timeline of convergence and adoption activities, including the SEC's announcement of its work plan. View full background document >

IFRS Primer for Audit Committees

Over 120 nations and reporting jurisdictions require or allow the use of International Financial Reporting Standards (IFRS) for preparation of financial statements for domestic listed companies. The convergence of US Generally Accepted Accounting Principles (US GAAP) with IFRS is underway. The SEC has directed its staff to execute a Work Plan that would help the SEC evaluate the impact of IFRS use by U.S. public companies on the U.S. securities market. The Work Plan will help the SEC decide whether to incorporate IFRS into the U.S. financial reporting system, and if so, when and how. Audit Committees should anticipate this significant change and inquire of the company's management as to the readiness of the company, and their implementation plan for moving to IFRS if or when required by the SEC. View full IFRS Primer document >

Financial System Considerations in IFRS Conversion Projects

Prepared by the Information Technology Section of the AICPA, this white paper explores information technology implications of an IFRS conversion, including the impact on financial and business reporting, implementation considerations and lessons learned from the European experience. To learn more about Information Technology resources, including information about joining the IT Section of the AICPA, visit the AICPA's Information Technology Center at AICPA.org. View information technology white paper > Visit the AICPA Information Technology Center >

IFRS Videos

ARCHIVES

Importance of Global Standards

Robert L. Shanks, Vice President and Controller of Ford Motor Company, speaks about the importance to Ford of a single set of high quality, understandable, enforceable and globally accepted financial reporting standards.

FASB and IASB Convergence Projects

Keep up with the progress of convergence efforts between the International Accounting Standards Board and the U.S. Financial Accounting Standards Board. This section of IFRS.com provides links to the IASB Work Plan and the FASB Technical Plan and Project Updates page, in addition to other resources to help you keep track of accounting convergence.

Learn more.

IFRS for SMEs — U.S. GAAP Comparison Wiki

The AICPA is developing a resource that compares the International Financial Reporting Standard for Small and Medium-Sized Entities (IFRS for SMEs) with corresponding requirements of U.S. generally accepted accounting principles (U.S. GAAP). This resource is available in a Wiki format and you are invited to contribute to its development. To learn more about the resource, view available sections and contribute to its content, click here: Learn more.

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IFRS.com – Your source for IFRS guidance – has started a page on Twitter. Get the latest IFRS news, updates and IFRS resources at www.twitter.com/IFRScom.
(Use hashtag #IFRS)

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