Deloitte IFRS

IFRS in the U.S.: Responding to the challenge

Mon, 5 Sep 2011 15:13:16 +0530

Although the U.S. Securities and Exchange Commission (SEC) has not yet made a definitive decision to incorporate International Financial Reporting Standards (IFRS) into the U.S. financial reporting system, a company can take proactive steps now to efficiently and effectively navigate through this anticipated period of substantial accounting change.

Financial reporting considerations related to S&P’s downgraded credit

Wed, 24 Aug 2011 14:27:06 +0530

This Financial Reporting Alert discusses several considerations related to Standard & Poor's (S&P) recent downgrade of long-term U.S. sovereign debt. The alert highlights that the S&P’s downgrade does not cause, in and of itself, an other-than-temporary impairment of U.S. sovereign debt. The alert also reminds accounting professionals that the recent volatility in the financial markets could trigger additional impairment analysis of an entity’s investments and other assets.

IFRS in your pocket 2011

Wed, 24 Aug 2011 14:26:17 +0530

This guide covers relevant International Financial Reporting Standards (IFRS) issues to help you understand IFRS and how they are being adopted around the world. The tenth edition of the guide includes information about: International Accounting Standards Board (IASB), use of IFRS around the world, update on IFRS - U.S. Generally Accepted Accounting Principles (GAAP) convergence and other useful IASB-related information.

Key factors shaping financial reporting: The decade ahead

Wed, 24 Aug 2011 14:25:24 +0530

Explore several financial reporting challenges and trends that have emerged over the past few years, focusing on three key qualitative characteristics of useful financial reporting - relevance, understandability and timelines.

How prepared companies are for changes to the Leases standards

Thu, 26 May 2011 14:35:23 +0530

The latest IFRS Insights newsletter includes an overview of a recent Deloitte survey about how prepared companies are to comply with new Leases accounting standards, as well as information about the changes ahead for offsetting and the International Accounting Standards Board’s recently issued fair value standard.

CFO Insights: Navigating the road to IFRS

Thu, 26 May 2011 14:33:28 +0530

This publication is a collection of IFRS articles that looks at this issue from a variety of angles, including: the emerging convergence challenge; cutting costs and driving value with an IFRS Center of Excellence; debt covenants; tax considerations; and enterprise resource planning systems.

IFRS Summit Center

Thu, 26 May 2011 14:32:06 +0530

Deloitte's online IFRS Summit Center features commentary and perspectives from International Accounting Standards Board (IASB) Chairman Sir David Tweedie and U.S. Financial Accounting Standards Board (FASB) Chairman Leslie Seidman, who were the keynote speakers at Deloitte’s third annual IFRS Summit.

IFRS Insights: Hedge Accounting, Change Management Strategy and R & D

Wed, 16 Feb 2011 21:03:45 +0000

The latest IFRS Insights newsletter includes articles about the changes ahead for hedge accounting, the importance of a change management strategy for your IFRS conversion, the impact of IFRS convergence on research and development costs, and more.

Will IFRS Trip Up Your Debt Covenants?

Wed, 16 Feb 2011 21:03:45 +0000

Proactive CFOs have an opportunity to capitalize on the upside to converging global accounting standards.

IFRS Insights: Updates on Leasing, Insurance Contracts and Tax

Wed, 2 Feb 2011 21:03:45 +0000

The latest IFRS Insights newsletter includes articles about the changes ahead for lease accounting, the exposure draft for insurance contracts, why tax analysis can’t wait for the Securities and Exchange Commission (SEC) and more.

IFRS: Are Your ERP Systems Ready?

Wed, 19 Jan 2011 21:03:45 +0000

Recent versions of major ERP systems have been designed to incorporate IFRS. A finance transformation project conducted in conjunction with an IFRS assessment that effectively maps IFRS-related changes can yield efficiencies for both initiatives.

IFRS: Select Tax Considerations

Thu, 6 Jan 2011 21:03:45 +0000

A preliminary assessment of the statutory landscape and potential tax implications can help CFOs prioritize which jurisdictions require the most focus from a treasury perspective and those that require a deeper analysis from a cash tax perspective.

Cut Costs & Drive Value With an IFRS Center Of Excellence

Thu, 2 Dec 2010 21:03:45 +0000

An IFRS CoE can potentially help CFOs improve efficiencies and reduce financial reporting costs.

One Step Closer to IFRS?

Thu, 4 Nov 2010 21:03:45 +0000

SEC issues first progress report on its efforts and observations to date under its “Work Plan.” The Work Plan addresses specific areas of concern related to the incorporation of IFRS into the U.S. financial reporting system.

An Update for Boards and Audit Committees

Thu, 4 Nov 2010 21:03:45 +0000

This publication helps boards and audit committees stay abreast of the latest IFRS developments and understand potential implications.

IFRS Center of Excellence: A Shared Environment for IFRS Reporting

Thu, 28 Oct 2010 21:03:45 +0000

Learn about how an IFRS Center of Excellence can help companies consolidate their reporting activities, resulting in standardization and savings around the globe.

IFRS Insights: Cutting Costs and Improving Transparency

Thu, 28 Oct 2010 21:03:45 +0000

The latest IFRS Insights newsletter includes articles about cutting costs and improving transparency, lease accounting, accounting for property, plant and equipment, and building an IFRS internal training program.

IFRS Insights: The Importance of Using a Program Management Office

Thu, 9 Sep 2010 21:03:45 +0000

The latest IFRS Insights newsletter includes articles about the importance of a using a program management office, pricing transfer considerations, revenue recognition, and an industry feature for oil and gas companies.

IFRS Insights Newsletter: Updates on Convergence and Conversion

Thu, 5 Aug 2010 21:03:45 +0000

The July 2010 issue includes information about dual reporting and the associated IT challenges, an update on convergence efforts, and an industry update for power and utilities companies.

IFRS Update: Changes in the Irish Statutory Reporting Environment

Thu, 5 Aug 2010 21:03:45 +0000

Beginning in 2012, the Accounting Standards Board (ASB) proposes to replace Irish GAAP, which would require companies reporting under Irish GAAP to either adopt full IFRS or IFRS for Small and Medium-sized Entities (SMEs) for statutory reporting.

3 Reforms, a Wealth of Resources

Thu, 22 Jul 2010 21:03:45 +0000

In terms of regulatory compliance, three issues are top-of-mind for today's executives. Explore our health care reform, financial reform and IFRS resource libraries.

Navigating IFRS: Executive Training Program - September 28 & 29, 2010

Thu, 17 Jun 2010 21:03:45 +0000

Join us for a two-day International Financial Reporting Standards (IFRS) training program in Houston, TX to learn about key accounting issues and practical considerations related to IFRS implementation.

The Tidal Wave of Accounting and Financial Reporting Changes

Thu, 27 May 2010 21:03:45 +0000

Learn about the number of projects that are currently under way at FASB that will change U.S. GAAP. Regardless of whether the SEC sets a date for U.S.-based public entities to convert to IFRS, all U.S.-based entities will be affected.

Navigating IFRS: Executive Training Program for the Oil & Gas Industry

Thu, 27 May 2010 21:03:45 +0000

Join us in Houston June 16 - 17 to explore the potential implications of IFRS for the oil an gas industry and industry subsectors. We'll explore the latest issues and discuss the components of the SEC's Work Plan and the expected next steps.

IFRS Update: Changes in the Brazil Statutory Reporting Environment

Wed, 12 May 2010 21:03:45 +0000

By the end of 2010, Brazil will have substantially converged its accounting standards with IFRS, and U.S. multinational companies with Brazilian subsidiaries should be prepared for this change.

United Kingdom Accounting Standards Board to Replace UK GAAP

Wed, 12 May 2010 21:03:45 +0000

IFRS are required for listed companies in the UK. However, in 2012, options may change under a proposal from the UK ASB to replace UK GAAP, which would require companies to either adopt full IFRS or IFRS for small and medium-sized entities.

FASB Eyes Possible “Big Bang” Implementation of New Standards

Wed, 21 Apr 2010 21:03:45 +0000

The FASB and IASB continue to push forward with their efforts to converge U.S. GAAP and IFRS. These developments could significantly impact the evaluation and structuring of acquisitions and dispositions in the U.S. and abroad. Are your deal teams ready?

IFRS Insights Newsletter: March/April 2010

Thu, 1 Apr 2010 21:03:45 +0000

The March/April 2010 edition includes the SEC work plan for moving forward with IFRS, repatriation planning and an industry update for rate-regulated activities.

IFRS Insights Newsletter: January/February 2010

Thu, 4 Mar 2010 21:03:45 +0000

This edition covers key IFRS issues, including updates covering SEC activity, FASB and IASB convergence efforts and an overview of IFRS 9.

Latest IFRS Development: SEC Supports Convergence & Global Accounting Standards

Thu, 4 Mar 2010 21:03:45 +0000

The SEC unanimously agreed to issue a statement expressing its continued support for the development of a single set of high-quality globally accepted accounting standards. Learn more about the six key structural, operational and transitional areas of concern to be addressed by the staff.

SEC Publishes Work Plan for Moving Forward With IFRS for U.S. Issuers

Thu, 4 Mar 2010 21:03:45 +0000

This issue of Heads Up discusses the SEC’s recently released statement expressing its strong commitment to the development of a single set of high-quality globally accepted accounting standards and directing the SEC staff to execute a “Work Plan.”

Oil & Gas IFRS Seminar: March 23 - 24, 2010

Thu, 4 Mar 2010 21:03:45 +0000

Join us on March 23 and 24, 2010 for an educational program exploring IFRS in the oil and gas industry.

IFRS: What Should Boards and Audit Committees be Considering Now?

Wed, 20 Jan 2010 21:03:45 +0000

Deloitte's new IFRS publication addresses key questions and includes some practical guidance and updates that can help boards and audit committees stay current on this important and evolving topic.

Judgment Sustained: Deloitte Review Article

Tue, 5 Jan 2010 21:03:45 +0000

The principles-based orientation of IFRS will require greater exercise of judgment on accounting decisions by more managers across more varied parts of a company. How will companies enable managers to drive sustainable judgments that address today’s needs and protect or create future value?

A Closer Look at Share-Based Payment Plans and IFRS

Wed, 16 Dec 2009 21:03:45 +0000

A new publication exploring how U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) differ for share-based payment plans and how these differences may impact the organization.

IFRS Insights: December 2009

Wed, 16 Dec 2009 21:03:45 +0000

This edition covers key International Financial Reporting Standards (IFRS) issues, including International Accounting Standard (IAS) 18, shared-based payment plans and highlights from Deloitte's IFRS Summit 2009.

Financial Services: 2009 Accounting, Financial Reporting, Tax & Regulatory Update

Wed, 16 Dec 2009 21:03:45 +0000

Deloitte's annual update covers top-of-mind issues for the financial services industry as a whole and highlights specialized accounting, tax and regulatory considerations applicable to companies in the banking and securities, insurance, asset management and real estate industries.

10 Lessons From European IFRS Conversion in the Real Estate Industry

Wed, 11 Nov 2009 21:03:45 +0000

Learn 10 key lessons from Deloitte’s European experience of International Financial Reporting Standards (IFRS) conversion for real estate investors and developers.

IFRS Boot Camp: Cost Effective Strategies for IFRS Assessment & Conversion

Wed, 11 Nov 2009 21:03:45 +0000

Join Deloitte and Financial Executive International on November 18, 2009 for this one-day workshop.

IFRS Survey Results 2009: Current issues

Tue, 13 Oct 2009 21:03:45 +0000

A recent Deloitte survey was conducted to gather data and information on the latest International Financial Reporting Standards (IFRS) trends, views and assessment activities.

IFRS Roadmap: Planning a Safe, Economical Trip

Tue, 13 Oct 2009 21:03:45 +0000

With International Financial Reporting Standards (IFRS) conversions underway in many countries, executives may flash back to Sarbanes-Oxley, with its rapid and often difficult implementation. Fortunately, IFRS conversion efforts need not follow the Y2K or SOX pathway.

Navigating IFRS: Two-Day Executive Training Program December 8 - 9, 2009

Tue, 13 Oct 2009 21:03:45 +0000

Join Deloitte for a two-day International Financial Reporting Standards (IFRS) executive training program to learn about key accounting issues and practical considerations related to IFRS implementation.

IFRS Insights: July/August 2009

Thu, 17 Sep 2009 19:35:01 +0000

This edition covers key International Financial Reporting Standards (IFRS) issues, including IFRS for insurance companies, IFRS for small and medium-sized entities and an overview of International Accounting Standard 19, Employee Benefits.

IFRS Insights: June 2009

Mon, 27 Jul 2009 19:35:01 +0000

The June issue marks one year of IFRS Insights and covers key IFRS issues including an update on developments around the world, how IFRS can be a catalyst for change in the tax function, and a brief overview of International Accounting Standard 12, Accounting for Income Taxes.

Making History: A Look at a Move to IAS 37 from the Longstanding FAS 5 and its Effect on Buy-Sell Transactions

Mon, 27 Jul 2009 19:35:01 +0000

With the impending adoption of IFRS for U.S.-based companies will come a change to one of the longest standing and pervasive accounting principles in U.S. history. Learn what companies entering into buy-sell transactions should carefully consider.

Introducing a new Deloitte.com

Mon, 27 Jul 2009 19:35:01 +0000

Explore our latest IFRS updates, research and perspectives.