IFRS Accounting
Trends & Techniques

Introducing a new AICPA publication on reporting under IFRS with illustrative excerpts from the audited annual reports of 100 companies that have made the conversion.

Are You Ready for IFRS? Moving Beyond the Basics

IFRS is becoming a reality in the U.S. This course will help solidify your knowledge of the similarities and differences between IFRS and U.S. GAAP.

Text, DVD, On-demand formats
Recommended CPE: Text-18, DVD/Manual-21

IFRS Digest:
What U.S. Practitioners and
Entities Need to Know Now

In this AICPA publication, prominent experts on IFRS have selected top articles and whitepapers, added commentary, and guide you through five major IFRS considerations.

IFRS SEMINARS

IASeminars, a leading provider of IFRS training courses, to offer a comprehensive range of IFRS training solutions worldwide.

IFRS News ClipsMORE
Improvements Needed in IASB Governance – Regulators say more work is needed to improve governance over the International Accounting Standards Board (The New York Times / Reuters)

FASB Moving Toward More Fair Value – In an interview with Risk Magazine, FASB chairman Robert Herz discusses the extension of fair value accounting for financial instruments, despite the concerns expressed by bank regulators. (Risk.net)

Finance Executives Appointed to IASB – CFO.com reports that Elke König, former CFO at Hannover Re Group in Germany, and Darrel Scott, CFO at FirstRand Banking Group in South Africa, have been appointed to the IASB for terms starting in 2010.
Featured IFRS News

Merits and Challenges of Having Fewer Rules

February 2, 2010 - The "U.S. Perspective" panel at October's AICPA/IASC Foundation Conference on IFRS, featuring six financial industry heavyweights, evolved into a discussion about the merits and challenges of a principles-based system of accounting. Read what the panel participants said during the discussion.

Volunteers Needed to Develop Questions on IFRS for Uniform CPA Examination

January 27, 2010 – The AICPA Examinations Team is seeking professionals with solid skills and knowledge in International Financial Reporting Standards to develop questions ("items") on IFRS for the Uniform CPA Examination. Learn more.

IT Participation in IFRS Conversion is Essential

As Canadian companies prepare for IFRS, this CFO.com addresses how companies have learned the importance of involving information-technology leaders in the conversion process.

IFRS for SMEs — U.S. GAAP Comparison Wiki

December 30, 2009 – 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.

IFRS Subject Matter Experts Needed

The AICPA Learning team is developing an IFRS Certificate of Accomplishment program for Certified Public Accountants and Chartered Accountants. The AICPA is seeking subject matter experts with extensive IFRS knowledge and with experience in IFRS application and/or training to work on program components. Learn more.

The Effect of IFRS Implementation on Tax

December 2009 – Income tax is an area in which the IASB and FASB have worked for convergence. The Tax Adviser explains how the implementation of IFRS (whether through convergence or adoption) would affect tax. (The Tax Adviser)

Featured Blog Posting

Expected vs. Incurred Loss Models

The International Accounting Standards Board issued an exposure draft on the amortized cost measurement and impairment of financial instruments in November. The exposure draft proposes an expected loss model for recognizing impairments on financial assets recorded at amortized cost. Do you believe that a move to an expected loss model would be a move in the right direction? Let us know what you think.

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International Financial Reporting Standards (IFRS) - A Backgrounder

The American Institute of Certified Public Accountants (AICPA) has recently issued a background document on International Financial Reporting Standards (IFRS). Read a brief overview by clicking on the links below –

• Get Ready for IFRS
• Worldwide Momentum
• SEC Leadership in International Effort
• AICPA Participation
• Two Sides of the Story
• GAAP and IFRS, Still Differences
• What CPAs Need to Know

View full background document >

IFRS Primer for Audit Committees

The globalization of business and finance has led more than 12,000 companies in over a hundred countries to adopt IFRS.

The convergence of US GAAP with International Financial Reporting Standards (IFRS) for US companies seems increasingly likely. Audit Committees should anticipate this significant change and inquire of the CEO and CFO as to the readiness of the company, and their implementation plan for moving to IFRS if/when required by the SEC.

View full IFRS Primer document >
Single player for Home page.
Video Clip: Cash Flow Statement
Excerpt from the AICPA's Fourth Quarter IFRS Webcast. Panelists discuss FASB/IASB proposed changes to the statement of cash flows outlined in the Boards' joint discussion paper on financial statement presentation.

Follow IFRS.com on Twitter

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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Who Issues IFRS?

International Financial Reporting Standards (IFRS) is a set of accounting standards, developed by the International Accounting Standards Board (IASB), that is becoming the global standard for the preparation of public company financial statements.The IASB is an independent accounting standards body, based in London, that is unaffiliated with the AICPA, CPA2Biz or this website.