Managing the Transition to IFRS-Based Financial Reporting: A Practical Guide to Planning and Implementing a Transition to IFRS or National GAAP

Since 2005, all EU listed companies have been reporting under IFRS in their group accounts. The UK’s Accounting Standards Board is proposing that in the next few years all UK companies, other than the smallest, will move to some form of IFRS-based financial reporting. The US is also undergoing a transition to IFRS, as are many other countries such as India and Japan.

This book will cover the most common accounting issues involved in a move to IFRS, and deal with the specific accounting and disclosure requirements in the first year of IFRS reporting. Crucially, however, the book will also focus on how to plan and manage the transition, fully exploring the non-accounting implications based on the experience of companies that have already gone through the transition.

The book:

• Provides a clear summary of the main IFRS accounting requirements which are specific to IFRS transition
• Focusses on planning and managing the IFRS transition project
• Emphasises the non-accounting implications of IFRS transition
• Considers how to best communicate and educate about the IFRS transition
• Includes case studies of companies that have gone through the IFRS transition

Managing the transition to IFRS-based financial reporting does not focus on any specific country, instead offering advice which can be applied in all jurisdictions. This international appeal, coupled with its holistic approach, makes it the one-stop guide to managing this vital transition.

Keywords: International Accounting