In an increasingly global economy, the need for a common accounting language has become apparent. Having fair accounting standards will help protect investors, customers, and other stakeholders from receiving incomplete or inaccurate information.
The International Financial Reporting Standards (IFRS) is a globally recognized set of standards that apply to financial statements. IFRS is a significant step towards establishing a common framework upon which companies can list their assets, disclose expenses, and measure performance.
For your company to take full advantage of IFRS, it needs to understand more than just the rules. Indeed, leveraging IFRS involves taking control of current ledger systems and mapping them onto auditable IFRS and GAAP frameworks. This deeper level of implementation will require a solid understanding of IFRS and how it applies across multiple jurisdictions.
What You’ll Learn:
- What is IFRS and what is its purpose?
- How IFRS can benefit your business
- Best Practices for Implementing IFRS