International Financial Reporting Standards - Will the Transition from GAAP to IFRS Affect Your U.S.-based Company?

Major accounting changes are coming to the U.S. as generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS) converge in the next several years.  And the impact should concern more than just accountants. A change of this magnitude will impact analysis models, accounting software, and training.  Companies of all sizes, but especially publicly-held companies who will see the changes first, need to understand that using a different accounting method can create different financial results and, potentially, increased tax liabilities.

There are two projects going on simultaneously.  The first one is the move to IFRS. The second is a draft of a new statement presentation format.  The change in statement presentation f...

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