IFRS Resource Center
BDO's IFRS strategy is designed to assist companies in keeping current on the latest developments with regard to International Financial Reporting Standards (IFRS) and the practical considerations involved in the convergence toward and implementation of global standards. Our program will continue to evolve, so please check back often for valuable insights and guidance.
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IFRS in the News
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SEC Year in Review: Deciding Whether to Incorporate IFRS into U.S. Financial Reporting
During 2011, the Securities and Exchange Commission and its staff continued work on deciding whether, and if so, how and when, to incorporate IFRS into financial reporting by domestic issuers. In this newsletter, BDO summarizes the SEC’s progress during 2011. -
IASB and FASB Issue Revised Exposure Draft on Revenue from Contracts with Customers
On November 14, 2011, the IASB and FASB jointly issued a revised exposure draft, Revenue from Contracts with Customers. The guidance revises the initial exposure draft on this topic issued in June 2010 and would supersede the majority of current revenue recognition guidance. The objective of the exposure draft is to clarify existing revenue recognition principles and develop a common standard for US GAAP and IFRS. This includes removing inconsistencies and perceived weaknesses in existing revenue standards, and also improving the comparability of revenue recognition practices across companies, industries and capital markets. This flash report summarizes the main provisions of the exposure draft. BDO also hosted a webinar on January 18, 2012 summarizing the main provisions. The course will become available as a self-study shortly. -
IASB Final and Proposed Guidance, and Other Activities, Q4 2011
For a summary of final and proposed standards, and other significant IASB activities, during the fourth quarter of 2011, refer to BDO’s quarterly Significant Accounting and Reporting Matters Guide. -
SEC Issues Two Staff Papers on Work Plan for Convergence of Global Accounting Standards
On November 16, 2011, the Securities and Exchange Commission’s Office of the Chief Accountant issued two Staff Papers related to the Commission’s Work Plan towards convergence of global accounting standards. The Work Plan’s objective is to assist the Commission in making a decision on whether, when, and how to incorporate IFRS into the U.S. domestic reporting system. One of the Staff Papers issued provides a comparison of U.S. GAAP to IFRS, while the second paper provides an analysis of IFRS in practice. The papers do not further address the timing of the Commission’s final decision to incorporate IFRS, which was originally scheduled to be made by the end of 2011. -
BDO Knows: IFRS - SEC's Progress Report on Work Plan for Global Accounting Standards
On October 29, 2010, the SEC published their first progress report on the Work Plan related to the implications of incorporating International Financial Reporting Standards ("IFRS") into the financial reporting system for U.S. Domestic issuers (the "Progress Report"). -
IFRS Daily News
IFRS News is BDO's regular update on what's just arrived in the world of IFRS. On this page, you'll find daily reporting of IFRS developments, including exposure drafts, standards and interpretations issued by the IASB and IFRIC. -
Attitudes to IFRS v2.0
BDO's IFRS Adoption report aimed at providing a better understanding of key issues to be considered in adoption of IFRS via the sharing of experiences of CFOs and their thoughts and attitudes towards adoption. -
IFRS for Private Companies
On July 9, 2009, the IASB published International Financial Reporting Standards (IFRS) for small and medium-sized entities, IFRS for SMEs. -
IFRS BDO NewsBytes
Excerpts of BDO 2008 Media Coverage on IFRS
For additional BDO publications and further news and alerts refer to BDO Thought Leadership Materials and External Resources.
U.S. GAAP versus IFRS - BDO's comparison of current IFRS standards to U.S. GAAP.
IFRS Implications for Audit Committees - Key questions that those charged with governance (e.g., audit committees) should consider in on-going discussions with management, internal and external auditors with respect to their organization's knowledge and preparedness for IFRS convergence.
Educate Me! - To find out how to access upcoming complimentary BDO AćsenseSM IFRS webinars and archived self-study courses along with other training resources.
