AICPA | www.IFRS.com
Your source for IFRS guidance
IFRS Update and Review
of Complex Topics
This course provides an in-depth examination of some of the most economically significant international accounting topics: revenue recognition, business combinations and impairments. The last part of the course provides an update on the issues and challenges of major current IASB projects.
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.
Accounting Trends and
Techniques Bundle
The bundle provides examples of reporting practices under U.S. GAAP and IFRS. The set features Accounting Trends & Techniques and IFRS Accounting Trends & Techniques at a savings up to $62.50 off the price of the books if they were purchased separately.
IFRS Seminars
IASeminars - a leading provider of training courses on International Financial Reporting Standards - offers AICPA members a comprehensive range of IFRS training solutions worldwide. AICPA members can save 10% on IASeminars' live courses by using promotion code AICPA10. Learn more.
Revenue Recognition – Far Reaching Changes on the Horizon
August 31, 2010 – The Financial Accounting Standards Board and the International Accounting Standards Board published for public comment an Exposure Draft titled Revenue Recognition: Revenue from Contracts with Customers. The comment period ends on October 22, 2010. Read a Business Brief prepared by the AICPA, which includes links to other AICPA resources on this important project.
FASB-IASB Exposure Drafts on Leases: Questions and Answers
August 27, 2010 - On August 17, 2010, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) published for public comment exposure drafts on Leases. The American Institute of Certified Public Accountants has developed questions and answers to highlight important aspects of the proposals.
Video: Revenue Recognition
August 19, 2010 - Kim Kushmerick, AICPA Technical Manager - Accounting Standards, provides an overview of the Revenue Recognition Exposure Draft issued by the U.S. Financial Accounting Standards Board and the International Accounting Standards Board. (AICPA)
IASB and US FASB Publish Proposals to Improve the Financial Reporting of Leases
August 17, 2010 - The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) today published for public comment joint proposals to improve the financial reporting of lease contracts. (FASB.org)
News Release | Exposure Draft
Notice of Solicitation of Public Comment on Consideration of Incorporating IFRS into the Financial Reporting System for U.S. Issuers
August 12, 2010 (SEC.gov)– The Securities and Exchange Commission is requesting public comment on behalf of the staff on multiple topics relating to its ongoing consideration of incorporating International Financial Reporting Standards (“IFRS”) into the financial reporting system for U.S. Issuers. The requests were issued in two separate releases: Release No. 33-9133 and Release No. 33-9134.
Panel Posts Questions on Private Company Financial Reporting for Public Comment
August 5, 2010 - A blue-ribbon panel tasked with providing recommendations on the future of U.S. accounting standards for private companies by the end of this year is seeking public feedback on a series of questions that will assist the panel in discussing how accounting standards can best meet the needs of U.S. users of private company financial statements and making recommendations thereon. (Journal of Accountancy)
FASB/IASB Proposed Revenue Recognition Standard: Questions and Answers
On June 24, 2010, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) published for public comment an exposure draft, Revenue from Contracts with Customers. The American Institute of Certified Public Accountants has developed questions and answers to highlight important aspects of the project.
Revenue Recognition and Customer Credit Risk
On June 24, the U.S. Financial Accounting Standards Board and the International Accounting Standards Board issued a proposed new joint standard for revenue recognition.
The proposals in this exposure draft are far reaching. Under the new exposure draft, collectibility would not directly affect the timing of revenue recognition but is considered in determining the transaction price, thus affecting how much can be recognized.
Have you had a chance to study the Exposure Draft Revenue Recognition (Topic 605): Revenue from Contracts with Customers? What do you think about the proposals?
International Financial Reporting Standards (IFRS) - A Backgrounder
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Get an introduction to the movement behind adoption of IFRS for public companies throughout the world. The AICPA’s IFRS Backgrounder walks you through the regulators, standard setters and others who play a critical role and the timeline of convergence and adoption activities, including the SEC’s announcement of its work plan. |
IFRS Primer for Audit Committees
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Over 120 nations and reporting jurisdictions require or allow the use of International Financial Reporting Standards (IFRS) for preparation of financial statements for domestic listed companies. Audit Committees should anticipate this significant change and inquire of the company’s management as to the readiness of the company, and their implementation plan for moving to IFRS if or when required by the SEC. |
Financial System Considerations in IFRS Conversion Projects
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Prepared by the Information Technology Section of the AICPA, this white paper explores information technology implications of an IFRS conversion, including the impact on financial and business reporting, implementation considerations and lessons learned from the European experience.
View information technology white paper > |
- Video Clip: IFRS for SMEs
- Excerpt from the AICPA's Second Quarter 2010 IFRS Webcast. Panelists discuss aspects of the International Financial Reporting Standard for Small and Medium-sized Entities.
FASB and IASB Convergence Projects
Keep up with the progress of convergence efforts between the International Accounting Standards Board and the U.S. Financial Accounting Standards Board. This section of IFRS.com provides links to the IASB Work Plan and the FASB Technical Plan and Project Updates page, in addition to other resources to help you keep track of accounting convergence.
Learn more.
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?
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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.
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