Are you ready?

Article Abstract:

All AIM-listed companies have to report their results under International Financial Reporting Standards (IFRS) for accounting periods beginning on or after January 1, 2007. Several areas of differences between the hitherto followed U.K. accounting standards and IFRS are discussed, particularly in acquisition accounting, and tips provided for preparing a planned, appropriate financial statement.

Reporting & Disclosure, Evaluation, Financial statements

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Convergence or conversion?

Article Abstract:

The lack of clarity among American companies in understanding the adoption of the International Financial Reporting Standards (IFRS) as part of global convergence is discussed. It is stated that the IFRS standards will not be changed to be similar to the US GAAP, but they would have to adopt IFRS.

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Lessons learned: Steady as she goes

Article Abstract:

The International Financial Reporting Standards (IFRS) that was affecting the compilation and presentation of financial statements in UK was studied. It indicated that process companies had implemented the changes, coped well and their efforts were extremely impressive.

Analysis, Accounting, Disclosure statements (Accounting), Accounting standards

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