Navigating the Changes to IFRS: A briefing to CFOs
GTI IFRS Team publishes updated edition of
Navigating the changes to IFRS: A briefing to CFOs
The GTI IFRS Team has updated its publication Navigating the changes to International Financial Reporting Standards: a briefing for Chief Financial Officers. The publication is designed to give Chief Financial Officers a high-level awareness of recent changes that will affect companies’ future financial reporting. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones, giving brief descriptions of each. This Alert informs you about the new edition of this publication.
What's new in the 2011 edition
The December 2011 edition of the publication has been updated for changes to International Financial Reporting Standards that have been published between December 1, 2010 and November 30, 2011.
The publication now covers March 31, 2011, June 30, 2011, September 30, 2011, December 31, 2011 and March 31, 2012 financial year ends.
How to use the publication
The publication is designed to help entities planning for a specific financial reporting year end identify:
changes mandatorily effective for the first time
changes not yet effective
changes already in effect.
Identifying the commercial significance of the changes in the publication
For each change covered in the publication, we have included a box on its commercial implications. These sections focus on two questions:
how many entities will be affected?
what will be the impact on affected entities?
A traffic light system indicates our assessment of the answers to these questions.