Managing the Transition to IFRS-Based Financial Reporting: A Practical Guide to Planning and Implementing a Transition to IFRS or National GAAP

PREFACE

This book provides a guide on planning and implementing a change in the financial reporting framework applied in the preparation of financial statements, and specifically the move to International Financial Reporting Standards (IFRSs). The book will be of use to a wide audience who wish to understand the implications of moving to follow IFRS, or a financial reporting framework that is substantially converged with, or based on, the principles of IFRS.

While a plethora of publications exist covering the topic of IFRS and their application, there is little guidance available on the transition process itself. The professional accounting firms, of course, provide advice on planning a transition to IFRS to their clients, and have some documentation available on their websites. This is the first book to provide a comprehensive guide on planning and implementing a transition that also covers the wider commercial implications and puts the transition into a project management context.

It is anticipated that as well as preparers of the financial statements who wish to plan their transition effectively and communicate the relevant facts to external parties in an understandable way, interested readers will include investors, analysts, lenders, employees, suppliers and customers who need to understand the implications of a reporting entity moving to IFRS. The implications also need to be understood by board members, non-executive directors and other members of management within an ...