TITLE

What's Needed to Move to IFRS?

AUTHOR(S)
Malwitz, Mike; O'Rourke, John
PUB. DATE
March 2009
SOURCE
Financial Executive;Mar2009, Vol. 25 Issue 2, p14
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses adoption of international financial reporting standards (IFRS) in the U.S. and steps firms must take to accomplish that. A study by Citigroup of a sample of European firms found that net income was generally higher under IFRS than with U.S. accounting rules. The U.S. Securities and Exchange Commission estimates the transition to IFRS will entail one-year costs of 0.13% of a firm's revenues. The authors describe a four-part approach to best practices for converting financial reporting, financial statements, and accounting systems to IFRS.
ACCESSION #
37034584

 

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