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.

First Quarter 2010 IFRS Webcast

March 31, 2010 | 2:00 – 4:00 PM ET

Every calendar quarter, the IFRS Webcast Series offers practical and down-to-earth sessions that will keep you "plugged-in" to what's important about the IFRS standards – including the differences, similarities between IFRS and US GAAP, and updates on the current convergence efforts. Register now.

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
Survey Shows Support for Early Adoption Option – According to a KPMG LLP survey, 49% of respondents said that they would like an option to adopt IFRS before 2015, if the SEC makes a decision to require or permit IFRS for U.S. companies. Reuters reports on the KPMG survey.

Japan will Allow IFRS 9 for Early Adopters – Japan will allow IFRS for certain "specified" companies starting with fiscal years ending on or after March 31, 2010. Accountancy Age reports on a Financial Times article, which says that the controversial standard IFRS 9 will be included in the standards available for use by Japanese companies.

IASB Proposes Adding Regulatory Page to Bank Financials – Accountancy Age reports that an IASB proposal would add a "regulatory page" to financial reports of financial institutions. This solution would supply information to regulators and relieve pressure to change accounting standards to meet regulatory goals.
Featured IFRS News

Countdown to Convergence

March, 2010 - This article provides a synopsis priority convergence projects in the FASB and IASB Memorandum of Understanding. Because the projects are active and subject to change, updates will be posted periodically to the online version of this article at journalofaccountancy.com. (Journal of Accountancy)

Video: SEC's Schapiro Speaks on IFRS

March 2, 2010 - Hear SEC Chairman Mary Schapiro's February 24 remarks on the SEC’s IFRS proposal. (Journal of Accountancy)

No IFRS Requirement Until 2015 or Later Under New SEC Timeline

February 24, 2010 - The SEC unanimously approved on Wednesday a new timeline that envisions 2015 as the earliest possible date for the required use of IFRS by U.S. public companies. The SEC action calls for more study of IFRS and a 2011 vote on whether to move ahead with an IFRS mandate. (Journal of Accountancy)

SEC Approves Statement on Global Accounting Standards

February 24, 2010 - The Securities and Exchange Commission today voted to issue a statement that lays out its position regarding global accounting standards and makes clear that the Commission continues to believe that a single set of high-quality globally accepted accounting standards would benefit U.S investors. (SEC.gov)

AICPA Issues Statement on SEC Commitment to Move U.S. toward International Financial Reporting Standards with new "Work Plan"

February 24, 2010 - The American Institute of Certified Public Accountants President and CEO Barry Melancon issued a statement on the Securities and Exchange Commission’s endorsement today of a plan to work toward incorporation of International Financial Reporting Standards (IFRS) in the U.S. financial reporting system.

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.

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.

Featured Blog Posting

IASB Funding

The International Accounting Standards Committee Foundation (IASC Foundation) is expected to complete part two of its constitution review in the second quarter of 2010. Proposals for enhanced accountability issued last year did not include specific proposals on how the organization plans to achieve a stable, secure funding mechanism that will promote independence of the standard setting process.

Share your thoughts on the importance of the IASB's funding source. Do you believe it should be a component of the IASC Foundation’s constitution review?

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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.

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.

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.