IFRS equivalents ready now!

Article Abstract:

In view of the Australian Accounting Standards Board (AASB) planning to adopt the standards equivalent to the International Financial Reporting Standard (IFRS). The financial report makers are suggested to select an accounting policy, considering the requirements of the AASB and whether to apply for any exemptions and collecting time sensitive information used in calculations.

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Who bears the impact of IFRS?

Article Abstract:

The CPA Australia commissioned Monash University to conduct a research on the adoption of IFRS and the impact on Australian entities. The findings indicated the impact of these standards on business and gave preliminary indications on the impact of key exposure drafts.

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Thought required before the IFRS plunge

Article Abstract:

IFRS is a universally accepted language, which helps the investors and other stakeholders to communicate and engage more effectively. Australia opted for IFRS to apply across all reporting entities whereas the EU opted for only listed entities.

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