更多服务

特色服务

找学习资源

查报考信息

看备考资讯

备考工具箱

报考指南

报考条件

考试日历

资料中心

考试动态

就业前景

热门题库

网校课程

精彩推荐

全部

AICPA考试信息技术IFRS内容转换思考3

来源：高顿网校 2013-06-20

　　Key differences between IFRS and GAAP & impact to financial/ business reporting

　　Transaction Differences

　　There are a number of differences between U.S.GAAP and IFRS.Below is a chart that highlights a few of these differences.

　　In addition to these transaction examples listed below,IASB and FASB are also working jointly on several MoU projects targeted for completion in 2010 and 2011.Major convergence projects include:

　　·Revenue Recognition

　　·Leases

　　·Financial Instruments

　　·Consolidations

　　·De-recognition

　　·Fair Value Measurement

　　·Financial Statement Presentation

　　·Financial Instruments with Characteristics of Equity

　　As these major MoU projects are completed and new standards are released by the FASB,these changes will impact how the transactions are recorded,processed and/ or reported within a financial system(most likely prior to converting to IFRS depending on the time of completion).

　　It is important to monitor both the FASB and IASB website for project updates on when the standards are under exposure draft(review)and ready for release(final).

　　Certain IFRS/GAAP differences may likely be adjusted through General Ledger journal entries or chart of account structuring and do not require system changes at the sub-ledger level.The approach will vary depending on the organization's structure and environment described above in Potential System Impacts of an IFRS Conversion.However,opportunities for automation using Excel macros and formulas or other alternative tools may be possible for separate journal posting calculations.Additionally,this list of examples will continue to change as the FASB and IASB continue their efforts to converge standards.

　　Exhibit 2

　　Transaction Differences

　　Impact to Financial or Business Reporting

　　Besides specific transactional differences,converting from U.S.GAAP to IFRS will also impact a company's external and internal reporting requirements.Although some transactional differences require only journal entry adjustments within the General Ledger(or minimal financial system changes),other changes may impact an organization’s current reporting infrastructure(such as data warehousing environment or associated reporting program).Furthermore,journal entry adjustments for multiple countries and parallel reporting in IFRS and GAAP may become cumbersome without additional tools to assist in the reporting process(such as a consolidation tool).Below is a chart that highlights some of these external and internal reporting examples.

　　Similar to the transaction differences,it is important to monitor both the FASB and IASB websites for MoUrelated project updates since several of these projects also relate to the financial reporting requirements listed above.In addition,the challenge to implementing these transactional or reporting changes is that organizations will still have to consider dual reporting once the entity decides to convert to IFRS.Companies will have to either(1)maintain both processes for statutory reporting until the three-year requirement is complete or(2)maintain one process and make topside adjustments to the other statutory reporting requirement.While both alternatives are achievable,option 2 can become cumbersome,difficult to track and not ideal/feasible.Explanation of the dual-reporting timeline is further discussed under Implementation Considerations.

　　Exhibit 3

　　External and Internal Reporting Differences

　　The AICPA's IFRS Primer for Audit Committees addressed two relevant IT-related questions that management should consider during the implementation process:

　　·How will this affect the company's way of doing business(e.g.changes to IT and other internal systems;risk monitoring and controls;inventory accounting;budgeting and forecasting;key performance indicators;joint ventures and alliances;subsidiaries;etc.)?

　　·How is management making system changes or implementing new systems today,in recognition of possible changes in the future?

　　As the above examples point out,transactional and reporting differences between IFRS and U.S.GAAP do affect a company's way of doing business.This leads to implementation issues to consider as a company decides to convert to IFRS.

高顿网校特别提醒：已经报名2013年AICPA考试的考生可按照复习计划有效进行！另外，高顿网校2013年AICPA考试辅导高清课程已经开通，通过针对性地讲解、训练、答疑、模考，对学习过程进行全程跟踪、分析、指导，可以帮助考生全面提升备考效果。

　　报考指南：2013年AICPA报考指南
　　考前冲刺：AICPA 考试试题考试辅导
　　高清网课：AICPA网络课程

版权声明：本条内容自发布之日起，有效期为一个月。凡本网站注明“来源高顿教育”或“来源高顿网校”或“来源高顿”的所有作品，均为本网站合法拥有版权的作品，未经本网站授权，任何媒体、网站、个人不得转载、链接、转帖或以其他方式使用。经本网站合法授权的，应在授权范围内使用，且使用时必须注明“来源高顿教育”或“来源高顿网校”或“来源高顿”，并不得对作品中出现的“高顿”字样进行删减、替换等。违反上述声明者，本网站将依法追究其法律责任。本网站的部分资料转载自互联网，均尽力标明作者和出处。本网站转载的目的在于传递更多信息，并不意味着赞同其观点或证实其描述，本网站不对其真实性负责。如您认为本网站刊载作品涉及版权等问题，请与本网站联系(邮箱fawu@gaodun.com，电话：021-31587497)，本网站核实确认后会尽快予以处理。

展开全文咨询在线

在线咨询热销

专业老师服务限时优惠

图文问答

图片文字快速问答