How to Adopt IFRS in Five Steps

摘要

If you work for a public company, you're likely discussing-and perhaps actively gearing up for-the substantial changes associated with adopting or endorsing International Financial Reporting Standards (IFRS) and converging them with U.S. Generally Accepted Accounting Principles (U.S. GAAP). In February 2010, the Securities & Exchange Commission (SEC) published a "Work Plan" related to IFRS adoption. In this document, the SEC committed its staff to "analyze" the impact on companies' accounting and related systems and procedures before deciding whether to adopt IFRS as the required accounting model for U.S. public companies. That decision is expected any day now, with implementation beginning as soon as 2015.