AICPA | WWW.IFRS.COM Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements. AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their

development.

TRAINING - INTERNATIONAL ACCOUNTING CPE, CONFERENCES AND Now Available! IFRS Certificate Program . Developed by subject matter experts from around the world, this comprehensive, integrated curriculum of 25 online scenario-based self-study courses uses multimedia elements and interactive exercises guide you through the concepts under each area of IFRS. UPDATES - IFRS NEWS FROM THE IASB, SEC, AICPA The Securities and Exchange Commission (SEC), created in 1934 by an Act of Congress, is the U.S. government agency with primary responsibility for enforcing the federal securities laws and regulating the securities industry and the U.S. stock market. INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements. AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDY Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements. AICPA | WWW.IFRS.COM : IFRS FAQS Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements. INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) 3 1 The European Union (EU) has adopted virtually all International Financial Reporting Standards (IFRSs), though there is a time lag in adopting several recent IFRSs. IFRS AND INCOME TAXES IFRS and Income Taxes Mary Bernard, CPA/MST | Corporate Tax Insider | July 31, 2008. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the

United States.

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

AICPA | WWW.IFRS.COM Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements. AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their

development.

TRAINING - INTERNATIONAL ACCOUNTING CPE, CONFERENCES AND Now Available! IFRS Certificate Program . Developed by subject matter experts from around the world, this comprehensive, integrated curriculum of 25 online scenario-based self-study courses uses multimedia elements and interactive exercises guide you through the concepts under each area of IFRS. UPDATES - IFRS NEWS FROM THE IASB, SEC, AICPA The Securities and Exchange Commission (SEC), created in 1934 by an Act of Congress, is the U.S. government agency with primary responsibility for enforcing the federal securities laws and regulating the securities industry and the U.S. stock market. INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements. AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDY Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements. AICPA | WWW.IFRS.COM : IFRS FAQS Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements. INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) 3 1 The European Union (EU) has adopted virtually all International Financial Reporting Standards (IFRSs), though there is a time lag in adopting several recent IFRSs. IFRS AND INCOME TAXES IFRS and Income Taxes Mary Bernard, CPA/MST | Corporate Tax Insider | July 31, 2008. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the

United States.

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements. LISTING OF INTERNATIONAL FINANCIAL REPORTING STANDARDS Listing of International Financial Reporting Standards International Financial Reporting Standards are developed by the International Accounting Standards Board. Access to IFRS technical summaries and unaccompanied standards (the core standards, excluding IFRS AND INCOME TAXES IFRS and Income Taxes Mary Bernard, CPA/MST | Corporate Tax Insider | July 31, 2008. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the

United States.

INTERNATIONAL FINANCIAL REPORTING STANDARDS What is IFRS? International Financial Reporting Standards (IFRS) are 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. INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) International Financial Reporting Standards (IFRS) — An AICPA Backgrounder . Get an introduction to the movement behind adoption of IFRS for public companies throughout the world. IS IFRS THAT DIFFERENT FROM U.S. GAAP? Is IFRS That Different From U.S. GAAP? Remi Forgeas, CPA Insider | June 16, 2008. The U.S. is moving toward IFRS. Unlike what happened with other countries, IASB and FASB have been working on convergence

for many years.

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFICATE PROGRAM Developed by the American Institute of CPAs, IFRS.com provides comprehensive resources for accounting professionals, auditors, financial managers and other users of financial statements.

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

FINANCIAL SYSTEM CONSIDERATIONS 2 Potential System Impacts of an IFRS Conversion As a company prepares to convert to IFRS, the impact to information technology (IT) and financial systems should CONVERGENCE WITH INTERNATIONAL ACCOUNTING STANDARDS CONVERGENCE WITH INTERNATIONAL ACCOUNTING STANDARDS. AICPA Communications | April 29, 2008. Background. The Financial Accounting Standards Board (FASB) is working with the International Accounting Standards Board (IASB) to converge their respective accounting standards into a robust set of rules that will meet the needs of preparers and users in all global constituencies. AICPA | WWW.IFRS.COM 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

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their

development.

TRAINING - INTERNATIONAL ACCOUNTING CPE, CONFERENCES AND Now Available! IFRS Certificate Program. Developed by subject matter experts from around the world, this comprehensive, integrated curriculum of 25 online scenario-based self-study courses uses multimedia elements and interactive exercises guide you through the concepts under each area of IFRS. CPE Self-Study. AICPA Conferences.

On-Site Training.

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It will affect almost every aspect of a U.S. company’s operations, everything from its information technology systems, to its tax reporting requirements, to the way it tracks stock-based compensation. For the CPA profession, the use of IFRS by U.S. publicly held companies will create the need for effective training and education. AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDY CPE Self-Study. The IFRS Certificate Program includes a comprehensive, integrated curriculum of 25 online self-study courses. This scenario-based series of courses use multimedia elements such as audio, video and interactive exercises and case studies to guide you IFRS AND INCOME TAXES IFRS and Income Taxes. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the United States. As the global economy expands, the U.S. is considering a convergence with IFRS to achieve a uniform international accounting standard. The shift to a single standard is likely for AICPA | WWW.IFRS.COM : IFRS FAQS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from multiple countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) 3 1 The European Union (EU) has adopted virtually all International Financial Reporting Standards (IFRSs), though there is a time lag in adopting several recent IFRSs. INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

AICPA | WWW.IFRS.COM 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

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their

development.

TRAINING - INTERNATIONAL ACCOUNTING CPE, CONFERENCES AND Now Available! IFRS Certificate Program. Developed by subject matter experts from around the world, this comprehensive, integrated curriculum of 25 online scenario-based self-study courses uses multimedia elements and interactive exercises guide you through the concepts under each area of IFRS. CPE Self-Study. AICPA Conferences.

On-Site Training.

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It will affect almost every aspect of a U.S. company’s operations, everything from its information technology systems, to its tax reporting requirements, to the way it tracks stock-based compensation. For the CPA profession, the use of IFRS by U.S. publicly held companies will create the need for effective training and education. AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDY CPE Self-Study. The IFRS Certificate Program includes a comprehensive, integrated curriculum of 25 online self-study courses. This scenario-based series of courses use multimedia elements such as audio, video and interactive exercises and case studies to guide you IFRS AND INCOME TAXES IFRS and Income Taxes. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the United States. As the global economy expands, the U.S. is considering a convergence with IFRS to achieve a uniform international accounting standard. The shift to a single standard is likely for AICPA | WWW.IFRS.COM : IFRS FAQS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from multiple countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) 3 1 The European Union (EU) has adopted virtually all International Financial Reporting Standards (IFRSs), though there is a time lag in adopting several recent IFRSs. INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It will affect almost every aspect of a U.S. company’s operations, everything from its information technology systems, to its tax reporting requirements, to the way it tracks stock-based compensation. For the CPA profession, the use of IFRS by U.S. publicly held companies will create the need for effective training and education. IFRS AND INCOME TAXES IFRS and Income Taxes. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the United States. As the global economy expands, the U.S. is considering a convergence with IFRS to achieve a uniform international accounting standard. The shift to a single standard is likely for IS IFRS THAT DIFFERENT FROM U.S. GAAP? Principles Based vs. Rules Based. One of the major differences lies in the conceptual approach: U.S. GAAP is rule-based, whereas IFRS is principle-based. The inherent characteristic of a principles-based framework is the potential of different interpretations for similar transactions. This situation implies second-guessing and creates INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

LISTING OF INTERNATIONAL FINANCIAL REPORTING STANDARDS Listing of International Financial Reporting Standards International Financial Reporting Standards are developed by the International Accounting Standards Board. Access to IFRS technical summaries and unaccompanied standards (the core standards, excluding IFRS PRIMER FOR AUDIT COMMITTEES International Financial Reporting Standards (IFRS) are being used worldwide by over 120 countries and reporting jurisdictions that either require or allow its use for the preparation of financial statements for publicly-held companies. Convergence of U.S. GAAP with IFRS is happening. In addition, there is a possibility that the SEC

will give U

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) View 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

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFICATE PROGRAM The IFRS Certificate Program is a comprehensive, integrated curriculum of 25 online self-study courses. A scenario-based series of modules, the program uses multimedia elements, such as audio, video and interactive exercises and case studies, to guide you through concepts under each area of IFRS. 2.

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

CONVERGENCE WITH INTERNATIONAL ACCOUNTING STANDARDS CONVERGENCE WITH INTERNATIONAL ACCOUNTING STANDARDS. AICPA Communications | April 29, 2008. Background. The Financial Accounting Standards Board (FASB) is working with the International Accounting Standards Board (IASB) to converge their respective accounting standards into a robust set of rules that will meet the needs of preparers and users in all global constituencies. AICPA | WWW.IFRS.COM 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

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their development. CPAs who successfully complete all the courses in the curriculum receive a TRAINING - INTERNATIONAL ACCOUNTING CPE, CONFERENCES ANDIFRS ACCOUNTING PDFIFRS ACCOUNTING PRINCIPLES Now Available! IFRS Certificate Program. Developed by subject matter experts from around the world, this comprehensive, integrated curriculum of 25 online scenario-based self-study courses uses multimedia elements and interactive exercises guide you through the concepts under each area of IFRS. CPE Self-Study. AICPA Conferences.

On-Site Training.

UPDATES - IFRS NEWS FROM THE IASB, SEC, AICPAAICPA IFRS CERTIFICATEIFRS CERTIFICATIONIFRS INVESTMENT ACCOUNTINGIFRS LEARNINGIFRS RULES FOR CAPITALIZATION SEC. FASB. AICPA. The IASB is an independent accounting standard-setting body, based in London. It consists of 14 members from nine countries, including the United States. The IASB began operations in 2001, when it succeeded the International Accounting Standards Committee, established in 1973. The IASB is committed to developing,

in the public

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It will affect almost every aspect of a U.S. company’s operations, everything from its information technology systems, to its tax reporting requirements, to the way it tracks stock-based compensation. For the CPA profession, the use of IFRS by U.S. publicly held companies will create the need for effective training and education. AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDYIFRS CPE COURSESAICPA IFRS CERTIFICATEAICPA IFRS PUBLICATIONIFRS CERTIFICATION COURSESIFRS CERTIFICATION IN USAIFRS CERTIFICATION ONLINE CPE Self-Study. The IFRS Certificate Program includes a comprehensive, integrated curriculum of 25 online self-study courses. This scenario-based series of courses use multimedia elements such as audio, video and interactive exercises and case studies to guide you IS IFRS THAT DIFFERENT FROM U.S. GAAP? Principles Based vs. Rules Based. One of the major differences lies in the conceptual approach: U.S. GAAP is rule-based, whereas IFRS is principle-based. The inherent characteristic of a principles-based framework is the potential of different interpretations for similar transactions. This situation implies second-guessing and creates AICPA | WWW.IFRS.COM : IFRS FAQS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from multiple countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) View 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

AICPA | WWW.IFRS.COM 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

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their development. CPAs who successfully complete all the courses in the curriculum receive a TRAINING - INTERNATIONAL ACCOUNTING CPE, CONFERENCES ANDIFRS ACCOUNTING PDFIFRS ACCOUNTING PRINCIPLES Now Available! IFRS Certificate Program. Developed by subject matter experts from around the world, this comprehensive, integrated curriculum of 25 online scenario-based self-study courses uses multimedia elements and interactive exercises guide you through the concepts under each area of IFRS. CPE Self-Study. AICPA Conferences.

On-Site Training.

UPDATES - IFRS NEWS FROM THE IASB, SEC, AICPAAICPA IFRS CERTIFICATEIFRS CERTIFICATIONIFRS INVESTMENT ACCOUNTINGIFRS LEARNINGIFRS RULES FOR CAPITALIZATION SEC. FASB. AICPA. The IASB is an independent accounting standard-setting body, based in London. It consists of 14 members from nine countries, including the United States. The IASB began operations in 2001, when it succeeded the International Accounting Standards Committee, established in 1973. The IASB is committed to developing,

in the public

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It will affect almost every aspect of a U.S. company’s operations, everything from its information technology systems, to its tax reporting requirements, to the way it tracks stock-based compensation. For the CPA profession, the use of IFRS by U.S. publicly held companies will create the need for effective training and education. AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDYIFRS CPE COURSESAICPA IFRS CERTIFICATEAICPA IFRS PUBLICATIONIFRS CERTIFICATION COURSESIFRS CERTIFICATION IN USAIFRS CERTIFICATION ONLINE CPE Self-Study. The IFRS Certificate Program includes a comprehensive, integrated curriculum of 25 online self-study courses. This scenario-based series of courses use multimedia elements such as audio, video and interactive exercises and case studies to guide you IS IFRS THAT DIFFERENT FROM U.S. GAAP? Principles Based vs. Rules Based. One of the major differences lies in the conceptual approach: U.S. GAAP is rule-based, whereas IFRS is principle-based. The inherent characteristic of a principles-based framework is the potential of different interpretations for similar transactions. This situation implies second-guessing and creates AICPA | WWW.IFRS.COM : IFRS FAQS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from multiple countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) View 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

AICPA | WWW.IFRS.COM 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

OVERVIEW - IFRS FOR ACCOUNTING FIRMS, FINANCIAL MANAGEMENT International Financial Reporting Standards (IFRS) are a set of accounting standards, developed by the International Accounting Standards Board (IASB), that are becoming the global standard for the preparation of public company financial statements. In the United States, the Securities and Exchange Commission (SEC) is considering

taking steps

AICPA | WWW.IFRS.COM : PUBLICATIONS The AICPA Audit Committee Toolkit: Private Companies, 2nd Edition. This new second edition has been updated to include the 2013 revised COSO framework. The checklists and worksheets have been revised to make them more user-friendly. The publication has been updated with relevant regulatory changes. Additionally IFRS guidance has been

added.

IFRS AND INCOME TAXES IFRS and Income Taxes. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the United States. As the global economy expands, the U.S. is considering a convergence with IFRS to achieve a uniform international accounting standard. The shift to a single standard is likely for INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) View 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

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFICATE PROGRAM The IFRS Certificate Program is a comprehensive, integrated curriculum of 25 online self-study courses. A scenario-based series of modules, the program uses multimedia elements, such as audio, video and interactive exercises and case studies, to guide you through concepts under each area of IFRS. 2. AICPA | WWW.IFRS.COM : UPDATES : FASB/IASB PROJECTS July 29, 2013 - The Chairman talks about a new collaboration between FASB and IASB and outlines approach and progress in a number of projects related to convergence, leasing, revenue recognition, insurance and codification. (AccountingToday) FEI Canada publishes study of transition costs from Canadian GAAP to IFRS.

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

CONVERGENCE WITH INTERNATIONAL ACCOUNTING STANDARDS CONVERGENCE WITH INTERNATIONAL ACCOUNTING STANDARDS. AICPA Communications | April 29, 2008. Background. The Financial Accounting Standards Board (FASB) is working with the International Accounting Standards Board (IASB) to converge their respective accounting standards into a robust set of rules that will meet the needs of preparers and users in all global constituencies. AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their development. CPAs who successfully complete all the courses in the curriculum receive a UPDATES - IFRS NEWS FROM THE IASB, SEC, AICPAAICPA IFRS CERTIFICATEIFRS CERTIFICATIONIFRS INVESTMENT ACCOUNTINGIFRS LEARNINGIFRS RULES FOR CAPITALIZATION SEC. FASB. AICPA. The IASB is an independent accounting standard-setting body, based in London. It consists of 14 members from nine countries, including the United States. The IASB began operations in 2001, when it succeeded the International Accounting Standards Committee, established in 1973. The IASB is committed to developing,

in the public

AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDYIFRS CPE COURSESAICPA IFRS CERTIFICATEAICPA IFRS PUBLICATIONIFRS CERTIFICATION COURSESIFRS CERTIFICATION IN USAIFRS CERTIFICATION ONLINE CPE Self-Study. The IFRS Certificate Program includes a comprehensive, integrated curriculum of 25 online self-study courses. This scenario-based series of courses use multimedia elements such as audio, video and interactive exercises and case studies to guide you INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It will affect almost every aspect of a U.S. company’s operations, everything from its information technology systems, to its tax reporting requirements, to the way it tracks stock-based compensation. For the CPA profession, the use of IFRS by U.S. publicly held companies will create the need for effective training and education. IFRS AND INCOME TAXES IFRS and Income Taxes. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the United States. As the global economy expands, the U.S. is considering a convergence with IFRS to achieve a uniform international accounting standard. The shift to a single standard is likely for AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDYIFRS CERTIFICATION COURSESIFRS CERTIFICATION IN USAIFRS COURSES The International Accounting Standards Board is developing 35 stand-alone training modules—one for each section of the International Financial Reporting Standard (IFRS) for Small and Medium-sized Entities (SMEs). The training material has been subject

to multi-level

IS IFRS THAT DIFFERENT FROM U.S. GAAP? Principles Based vs. Rules Based. One of the major differences lies in the conceptual approach: U.S. GAAP is rule-based, whereas IFRS is principle-based. The inherent characteristic of a principles-based framework is the potential of different interpretations for similar transactions. This situation implies second-guessing and creates INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) 3 1 The European Union (EU) has adopted virtually all International Financial Reporting Standards (IFRSs), though there is a time lag in adopting several recent IFRSs.

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

CONVERGENCE OF AUDIT AND ATTEST STANDARDS CONVERGENCE OF AUDIT AND ATTEST STANDARDS. AICPA Communications | April 24, 2008. Background. As international standards in audit and attest services become accepted worldwide, CPAs in the United States, including smaller firm practitioners, will need to be familiar with these international standards on auditing (“ISAs”) and may be required to perform engagements in accordance with these AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their development. CPAs who successfully complete all the courses in the curriculum receive a UPDATES - IFRS NEWS FROM THE IASB, SEC, AICPAAICPA IFRS CERTIFICATEIFRS CERTIFICATIONIFRS INVESTMENT ACCOUNTINGIFRS LEARNINGIFRS RULES FOR CAPITALIZATION SEC. FASB. AICPA. The IASB is an independent accounting standard-setting body, based in London. It consists of 14 members from nine countries, including the United States. The IASB began operations in 2001, when it succeeded the International Accounting Standards Committee, established in 1973. The IASB is committed to developing,

in the public

AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDYIFRS CPE COURSESAICPA IFRS CERTIFICATEAICPA IFRS PUBLICATIONIFRS CERTIFICATION COURSESIFRS CERTIFICATION IN USAIFRS CERTIFICATION ONLINE CPE Self-Study. The IFRS Certificate Program includes a comprehensive, integrated curriculum of 25 online self-study courses. This scenario-based series of courses use multimedia elements such as audio, video and interactive exercises and case studies to guide you INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It will affect almost every aspect of a U.S. company’s operations, everything from its information technology systems, to its tax reporting requirements, to the way it tracks stock-based compensation. For the CPA profession, the use of IFRS by U.S. publicly held companies will create the need for effective training and education. IFRS AND INCOME TAXES IFRS and Income Taxes. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the United States. As the global economy expands, the U.S. is considering a convergence with IFRS to achieve a uniform international accounting standard. The shift to a single standard is likely for AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDYIFRS CERTIFICATION COURSESIFRS CERTIFICATION IN USAIFRS COURSES The International Accounting Standards Board is developing 35 stand-alone training modules—one for each section of the International Financial Reporting Standard (IFRS) for Small and Medium-sized Entities (SMEs). The training material has been subject

to multi-level

IS IFRS THAT DIFFERENT FROM U.S. GAAP? Principles Based vs. Rules Based. One of the major differences lies in the conceptual approach: U.S. GAAP is rule-based, whereas IFRS is principle-based. The inherent characteristic of a principles-based framework is the potential of different interpretations for similar transactions. This situation implies second-guessing and creates INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) 3 1 The European Union (EU) has adopted virtually all International Financial Reporting Standards (IFRSs), though there is a time lag in adopting several recent IFRSs.

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

CONVERGENCE OF AUDIT AND ATTEST STANDARDS CONVERGENCE OF AUDIT AND ATTEST STANDARDS. AICPA Communications | April 24, 2008. Background. As international standards in audit and attest services become accepted worldwide, CPAs in the United States, including smaller firm practitioners, will need to be familiar with these international standards on auditing (“ISAs”) and may be required to perform engagements in accordance with these AICPA | WWW.IFRS.COM 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

ABOUT US - AICPA

IFRS.com is a destination website operated by the American Institute of CPAs (visit www.aicpa.org) in partnership with its technology subsidiary, CPA.com.. The site is home to a comprehensive set of resources related to International Financial Reporting Standards for accounting professionals, financial managers, audit committees, boards, investors and other users of financial statements. TRAINING - INTERNATIONAL ACCOUNTING CPE, CONFERENCES AND Now Available! IFRS Certificate Program. Developed by subject matter experts from around the world, this comprehensive, integrated curriculum of 25 online scenario-based self-study courses uses multimedia elements and interactive exercises guide you through the concepts under each area of IFRS. CPE Self-Study. AICPA Conferences.

On-Site Training.

LISTING OF INTERNATIONAL FINANCIAL REPORTING STANDARDS Listing of International Financial Reporting Standards International Financial Reporting Standards are developed by the International Accounting Standards Board. Access to IFRS technical summaries and unaccompanied standards (the core standards, excluding IFRS AND INCOME TAXES IFRS and Income Taxes. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the United States. As the global economy expands, the U.S. is considering a convergence with IFRS to achieve a uniform international accounting standard. The shift to a single standard is likely for AICPA | WWW.IFRS.COM : IFRS FAQS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from multiple countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) View 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

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) 3 1 The European Union (EU) has adopted virtually all International Financial Reporting Standards (IFRSs), though there is a time lag in adopting several recent IFRSs.

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

AICPA | WWW.IFRS.COM 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

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their development. CPAs who successfully complete all the courses in the curriculum receive a TRAINING - INTERNATIONAL ACCOUNTING CPE, CONFERENCES ANDIFRS ACCOUNTING PDFIFRS ACCOUNTING PRINCIPLES Now Available! IFRS Certificate Program. Developed by subject matter experts from around the world, this comprehensive, integrated curriculum of 25 online scenario-based self-study courses uses multimedia elements and interactive exercises guide you through the concepts under each area of IFRS. CPE Self-Study. AICPA Conferences.

On-Site Training.

UPDATES - IFRS NEWS FROM THE IASB, SEC, AICPAAICPA IFRS CERTIFICATEIFRS CERTIFICATIONIFRS INVESTMENT ACCOUNTINGIFRS LEARNINGIFRS RULES FOR CAPITALIZATION SEC. FASB. AICPA. The IASB is an independent accounting standard-setting body, based in London. It consists of 14 members from nine countries, including the United States. The IASB began operations in 2001, when it succeeded the International Accounting Standards Committee, established in 1973. The IASB is committed to developing,

in the public

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It will affect almost every aspect of a U.S. company’s operations, everything from its information technology systems, to its tax reporting requirements, to the way it tracks stock-based compensation. For the CPA profession, the use of IFRS by U.S. publicly held companies will create the need for effective training and education. AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDYIFRS CPE COURSESAICPA IFRS CERTIFICATEAICPA IFRS PUBLICATIONIFRS CERTIFICATION COURSESIFRS CERTIFICATION IN USAIFRS CERTIFICATION ONLINE CPE Self-Study. The IFRS Certificate Program includes a comprehensive, integrated curriculum of 25 online self-study courses. This scenario-based series of courses use multimedia elements such as audio, video and interactive exercises and case studies to guide you IS IFRS THAT DIFFERENT FROM U.S. GAAP? Principles Based vs. Rules Based. One of the major differences lies in the conceptual approach: U.S. GAAP is rule-based, whereas IFRS is principle-based. The inherent characteristic of a principles-based framework is the potential of different interpretations for similar transactions. This situation implies second-guessing and creates AICPA | WWW.IFRS.COM : IFRS FAQS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from multiple countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) View 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

AICPA | WWW.IFRS.COM 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

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFCATE PROGRAM The AICPA certificate is awarded for the completion of a comprehensive, integrated curriculum of 25 online, self-study training courses. The multimedia courses are interactive, engaging and scenario-based, with nearly 50 IFRS experts involved in their development. CPAs who successfully complete all the courses in the curriculum receive a TRAINING - INTERNATIONAL ACCOUNTING CPE, CONFERENCES ANDIFRS ACCOUNTING PDFIFRS ACCOUNTING PRINCIPLES Now Available! IFRS Certificate Program. Developed by subject matter experts from around the world, this comprehensive, integrated curriculum of 25 online scenario-based self-study courses uses multimedia elements and interactive exercises guide you through the concepts under each area of IFRS. CPE Self-Study. AICPA Conferences.

On-Site Training.

UPDATES - IFRS NEWS FROM THE IASB, SEC, AICPAAICPA IFRS CERTIFICATEIFRS CERTIFICATIONIFRS INVESTMENT ACCOUNTINGIFRS LEARNINGIFRS RULES FOR CAPITALIZATION SEC. FASB. AICPA. The IASB is an independent accounting standard-setting body, based in London. It consists of 14 members from nine countries, including the United States. The IASB began operations in 2001, when it succeeded the International Accounting Standards Committee, established in 1973. The IASB is committed to developing,

in the public

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It will affect almost every aspect of a U.S. company’s operations, everything from its information technology systems, to its tax reporting requirements, to the way it tracks stock-based compensation. For the CPA profession, the use of IFRS by U.S. publicly held companies will create the need for effective training and education. AICPA | WWW.IFRS.COM : TRAINING : CPE SELF-STUDYIFRS CPE COURSESAICPA IFRS CERTIFICATEAICPA IFRS PUBLICATIONIFRS CERTIFICATION COURSESIFRS CERTIFICATION IN USAIFRS CERTIFICATION ONLINE CPE Self-Study. The IFRS Certificate Program includes a comprehensive, integrated curriculum of 25 online self-study courses. This scenario-based series of courses use multimedia elements such as audio, video and interactive exercises and case studies to guide you IS IFRS THAT DIFFERENT FROM U.S. GAAP? Principles Based vs. Rules Based. One of the major differences lies in the conceptual approach: U.S. GAAP is rule-based, whereas IFRS is principle-based. The inherent characteristic of a principles-based framework is the potential of different interpretations for similar transactions. This situation implies second-guessing and creates AICPA | WWW.IFRS.COM : IFRS FAQS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from multiple countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) View 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

AICPA | WWW.IFRS.COM 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

OVERVIEW - IFRS FOR ACCOUNTING FIRMS, FINANCIAL MANAGEMENT International Financial Reporting Standards (IFRS) are a set of accounting standards, developed by the International Accounting Standards Board (IASB), that are becoming the global standard for the preparation of public company financial statements. In the United States, the Securities and Exchange Commission (SEC) is considering

taking steps

AICPA | WWW.IFRS.COM : PUBLICATIONS The AICPA Audit Committee Toolkit: Private Companies, 2nd Edition. This new second edition has been updated to include the 2013 revised COSO framework. The checklists and worksheets have been revised to make them more user-friendly. The publication has been updated with relevant regulatory changes. Additionally IFRS guidance has been

added.

IFRS AND INCOME TAXES IFRS and Income Taxes. International Financial Reporting Standards (IFRS) is the accounting standard used in over 100 countries, although not the United States. As the global economy expands, the U.S. is considering a convergence with IFRS to achieve a uniform international accounting standard. The shift to a single standard is likely for INTERNATIONAL FINANCIAL REPORTING STANDARDS The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial

institutions

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) View 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

AICPA | WWW.IFRS.COM : TRAINING : IFRS CERTIFICATE PROGRAM The IFRS Certificate Program is a comprehensive, integrated curriculum of 25 online self-study courses. A scenario-based series of modules, the program uses multimedia elements, such as audio, video and interactive exercises and case studies, to guide you through concepts under each area of IFRS. 2. AICPA | WWW.IFRS.COM : UPDATES : FASB/IASB PROJECTS July 29, 2013 - The Chairman talks about a new collaboration between FASB and IASB and outlines approach and progress in a number of projects related to convergence, leasing, revenue recognition, insurance and codification. (AccountingToday) FEI Canada publishes study of transition costs from Canadian GAAP to IFRS.

SEC IFRS POSITION

The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and

efficient markets.

CONVERGENCE WITH INTERNATIONAL ACCOUNTING STANDARDS CONVERGENCE WITH INTERNATIONAL ACCOUNTING STANDARDS. AICPA Communications | April 29, 2008. Background. The Financial Accounting Standards Board (FASB) is working with the International Accounting Standards Board (IASB) to converge their respective accounting standards into a robust set of rules that will meet the needs of preparers and users in all global constituencies. This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these

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Featured News

IASB ADDRESSES UNCERTAINTY IN ACCOUNTING FOR INCOME TAXES September 12, 2017 - The IASB on Tuesday released for comment a set of proposed IFRS statement amendments that would help companies distinguish accounting policies from accounting estimates. NEW IASB STANDARD AIMS FOR CONSISTENT REPORTING FOR INSURERS August 1, 2017 - IFRIC 23 adds to the requirements of IAS 12 NEW IASB STANDARD AIMS FOR CONSISTENT REPORTING FOR INSURERS July 1, 2017 - IFRS 17 creates a single approach for insurance contracts accounting. (Journal of Accountancy) IASB INTERPRETATION ADDRESSES UNCERTAINTY IN ACCOUNTING FOR INCOME

TAXES

June 7, 2017 - A new interpretation issued by the IASB specifies requirements for how organizations should reflect uncertainty in their accounting for income taxes. (Journal of Accountancy) NEW IASB STANDARD AIMS FOR CONSISTENT ACCOUNTING FOR INSURERS May 18, 2017 - A new standard issued by the IASB aims to provide transparent reporting about insurers’ financial position and risk. (Journal of Accountancy) IASB PROPOSES AMENDMENTS TO 3 STANDARDS March 1, 2017 - The changes are part of an annual improvement process. (Journal of Accountancy) IASB PROPOSES AMENDMENTS TO 3 IFRS STANDARDS January 12, 2017- The IASB issued clarifications to standards related to income taxes, borrowing costs and investments in associates and joint ventures. (Journal of Accountancy) WHY IFRS REMAINS RELEVANT IN THE U.S. December 5, 2016 - Knowledge and understanding of IFRS is important in the United States even though FASB’s standard-setting process best serves U.S. capital markets, SEC Chief Accountant Wes Bricker said. (Journal of Accountancy) BRINGING LEASES INTO VIEW April 1, 2016 - New lease accounting standards issued by FASB and the International Accounting Standards Board will result in substantial changes in recognition and presentation on the balance sheet for lessees. (Journal of Accountancy) IASB REQUIRES DISCLOSURES ABOUT DEBT FINANCING April 1, 2016 - The board responded to questions about changes in debt. (Journal of Accountancy) HOW EXPECTED CREDIT LOSS STANDARDS WILL CHALLENGE AUDITORS March 3, 2016 - Financial reporting standards requiring reporting of expected credit losses related to financial instruments are expected to create new challenges for auditors as well as management and audit committees. (Journal of Accountancy) KATHRYN A. BYRNE, CPA, CGMA March 1, 2016 - Kathryn A. Byrne, CPA, CGMA, is a partner and the manufacturing distribution practice leader at WeiserMazars in New York City. On Jan. 1, she started a three-year term as the chair of the International Federation of Accountants Compliance Advisory Panel. (Journal of Accountancy) NEW FASB LEASES STANDARD BRINGS TRANSPARENCY TO LESSEE BALANCE SHEETS February 25, 2016 - FASB issued a new standard on financial reporting for leases that is designed to bring transparency and comparability to lessee balance sheets. (Journal of Accountancy) FASB CONTINUES SIMPLIFICATION EFFORTS February 1, 2016 - Presentation of deferred income taxes changes under a new standard. (Journal of Accountancy) IASB PROPOSES 4 AMENDMENTS February 1, 2016 - The board considers annual improvements and its investment property standard. (Journal of Accountancy) SEC DISCUSSES SUPPLEMENTAL IFRS PLAN February 1, 2016 - The option would permit U.S. issuers to provide information in addition to U.S. GAAP. (Journal of Accountancy) WHAT DOES THE NEW REVENUE RECOGNITION STANDARD MEAN FOR TAX? February 1, 2016 - The new standard presents a unique opportunity for taxpayers to revisit their tax methods for revenue recognition to not only ensure compliance with the tax rules, but also to take advantage of tax opportunities and planning around revenue recognition. (The Tax

Adviser)

IFRS AMENDMENTS REQUIRE DISCLOSURES ABOUT DEBT FINANCING LIABILITIES January 29, 2016 - The changes are part of an initiative the IASB has undertaken to improve the effectiveness of disclosures in financial

reports. (CGMA.org)

IASB ISSUES LEASES STANDARD; FASB TO FOLLOW January 12, 2016 - The International Accounting Standards Board issued a new accounting standard that will bring all lease assets and liabilities onto the balance sheet. (Journal of Accountancy) 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 >

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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, AICPA Store or this website.

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