Similarities and differences 2009

IFRS updates ()

A comparison of IFRS and local GAAP for investment funds.Territories included: Australia, Canada, Hong Kong, India, Japan, and Singapore.

International Financial Reporting Standards (IFRS) are gaining momentum. The globalisation of business and finance has inevitably led to calls for a common set of high-quality, global accounting standards. IFRS has been successfully adopted in almost 100 places over the last couple of years. The IAS Regulation issued by the European Union in 2002 requires that listed companies in Europe adopt IFRS in 2005. Hong Kong and Australia converged with IFRS in 2005. Other places, such as Russia and Japan, are also making significant strides towards using IFRS more widely.

Previous issues of IFRS updates

Jan 2011 The implications of lease accounting for real estate
Apr 2010 IFRS Bulletin ED10 Consolidated Financial Statements
Feb 2010 IFRS and Luxembourg GAAP: Similarities and differences
Jan 2010 A practical guide to IFRS 8 for real estate entities
Aug 2009 A practical guide to amended IAS 40
Jan 2009 Similarities and differences 2009