Overview

 

General

International Financial Reporting Standards (IFRS) — an AICPA Backgrounder
The growing acceptance of International Financial Reporting Standards (IFRS) as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession.
International Financial Reporting Standards (IFRS) — Questions and Answers
Questions and answers developed by American Institute of Certified Public Accountants.

December 2008
Experts Answer Questions About IFRS

Experienced practitioners share views on early-adopter advantages, the potential demand for early adoption and IFRS for private entities.  Listen to their responses in this short four-minute video clip.

Speakers
D.J. Gannon, CPA, Partner
Deloitte & Touche LLP

Robert Tarola, CPA, President
Right Advisory LLC
(Former CFO of W.R. Grace)

Nancy Salisbury, CPA, Partner
Ernst & Young LLP

John F. Hudson, CPA (Moderator), President
Hudson Consulting Group, LLC

December 5, 2008
On the Verge of an Academic Revolution

The Journal of Accountancy hosted a virtual round table with eight academics to discuss how IFRS is affecting accounting education. The round table participants discussed how IFRS is being integrated into course work and shared their thoughts on how the international standards might affect the business curriculum in the future. Full Article | Audio Clips

December 4, 2008
Practical Implementation Issues: United Kingdom

The United Nations invited the Institute of Chartered Accountants in England and Wales to provide an assessment of experiences in implementing International Financial Reporting Standards in the United Kingdom. The report was published in the name of the United Nations Conference on Trade and Development and presented in November 2008. The report provides a review of practical implementation issues and lessons learned. A link to the report is provided on the ICAEW website.

December 4, 2008
Implementation of IFRS: Lessons Learned

In 2008, the United Nations Conference on Trade and Development (UNCTAD) published a report titled Practical Implementation of International Financial Reporting Standards: Lessons Learned. The report provides a review implementation issues and lessons learned through a series of country case studies. The case studies discuss implementations in Brazil, Germany, India, Jamaica, Kenya, Pakistan, South Africa and Turkey. Highlights and the full report are available on the UNCTAD.org website

December 4, 2008
Implementation of IFRS across European Union

The Institute of Chartered Accountants in England and Wales (ICAEW) published a report on the first year of implementation of International Financial Reporting Standards and the Fair Value Directive across the European Union. This comprehensive study includes detailed review of the 2005 financial statements of 200 companies across EU member states. The full report and executive summary are available for download at the ICAEW website

December 3, 2008
Business Survey about IFRS and IASB available

Assessing the IASB: Results of a Business Survey about International Financial Reporting Standards and IASB's Operations, Accountability, and Responsiveness to Stakeholders is a research report issued by The International Standards Project. Professors Tim Buthe of Duke University and Walter Mattli of Oxford University conducted the study.

December 1, 2008
Study analyzes implementation experiences in Europe

The Institute of Chartered Accountants of Scotland sponsored a research study titled The Implementation of IFRS in the UK, Italy and Ireland.  The study, released earlier this year, compared 175 financial statements pre- and post-IFRS and conducted interviews with preparers, auditors, users and regulators. 

October 22, 2008
One in five CFOs and senior controllers have experience preparing financial statements according to IFRS,
according to a recent Grant Thornton survey. Fifty-five percent of the 688 CFOs and senior controllers surveyed by Grant Thornton said that U.S. companies should be permitted to use international standards instead of U.S. GAAP. When asked about the SEC’s decision to permit foreign firms to file financial statements prepared according to IFRS without reconciliation to U.S. GAAP, 59 percent disagreed.
October 22, 2008
The Implementation of IFRS in the UK, Italy and Ireland
A research report published by The Institute of Charted Accountants of Scotland suggests that the transition to IFRS has had significant impact on the profits and net equity of companies. The study identified which standards had the most impact on financial statements of the companies in the study and which standards were the most problematic to implement.
October 2008
Accounting Profession Reacts to IFRS Plan
In August, the SEC agreed to a series of steps that could lead to the required use of IFRS by U.S. issuers by 2014. The Journal of Accountancy asked a group of accounting thought leaders for their views on the SEC’s proposal.
June 16, 2008
Gut Check on International Accounting Standards
Adoption of global standards fast approaching in the rear-view mirror.
May 2008
Adopting IFRS: One Nation’s Experience
The JofA spoke with Itamar Levin, editor of The Accountant, a publication of the Institute of Certified Public Accountants in Israel, on how the transition to IFRS has gone.
April 14, 2008
International Federation Of Accountants
IFAC is the global organization for the accountancy profession. It works with its 163 member organizations in 120 countries to protect the public interest by encouraging high quality practices by the world's accountants. IFAC members represent 2.5 million accountants employed in public practice, industry and commerce, government and academia.
February 2008
Change Agent
Robert Herz discusses FASB's priorities, the road to convergence and changes ahead for CPAs.
January 1, 2008
One Set of International Standards Important for Economic Growth: World Accountancy Leaders
Convergence to a single set of international standards is a key to economic development, according to a survey of worldwide leaders of the accounting profession conducted by the International Federation of Accountants (IFAC).
July 2007
Simplifying Global Accounting
IASB chair discusses the future of IFRS, U.S. GAAP and the global accounting profession.
Call for Volunteers to Work on Convergence of International Accounting Standards
The AICPA is looking for volunteers who have prepared financial statements based on international accounting standards, have audited those financial statements or have taught the subject.

Top